Facebook IPO
About Facebook IPO
Facebook went public on May 18, 2012 at 38 dollars per share. It was the largest technology IPO in history at the time, valuing the company at 104 billion dollars. The IPO raised 16 billion. The stock initially fell below the IPO price, trading as low as 17.55 in September 2012. Critics called the IPO a failure. However, Facebook shares eventually soared as mobile advertising revenue exploded. The company was renamed Meta in 2021, reflecting its pivot to the metaverse. The IPO demonstrated that initial post IPO performance does not determine long term success.
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