Facebook Inc. raised the price range for its initial public offering. The stock was said to open at $28 a share. Then it was bumped up from $28 to $34. We then heard that the stock was bumped up again to $34 to $38 a share. This makes Facebook’s IPO to raise 12.1 billion. Making it Silicon Valley’s biggest public offering. Facebook executives have been pitching the social network’s stock to investors on a roadshow since last Monday. The jump in price was said to be due to overwhelming demand by investors on the roadshow. The company’s initial price range put Facebook’s evaluation at $77 billion to $96 billion With this recent hike puts Facebook’s evaluation at $93 billion to $104 billion. Facebook will pick a final price Thursday Night. Thursday night its final IPO documents must be filed with the Securities and Exchange Commission. They must do this before its first day of trading Friday. A new poll out by Associated Press-CNBC poll http://news.yahoo.com/poll-half-americans-call-facebook-fad-040615340–finance.html shows more then half of Americans think Facebook is a fad and that it will be the next MySpace.
Facebook which is set to IPO on Friday May 18, 2012 has been getting a lot of mixed reactions from investors. Warren Buffet has said he believes it’s hard to buy companies like Facebook when they IPO because companies like that IPO when they are popular and in a few years they may not be as popular so he was going to wait on the purchase. Microsoft (MSFT) founder Bill Gates is a person that has said he sees a lot of himself in Facebook CEO and founder Mark Zuckerberg. Both Gates and Zuckerberg are Harvard drop outs. Bill gates goes on to say how Mark Zuckerberg has a vision of Facebook and he is willing to put in the hours and time into the company to achieve his goals. Facebook has been on a campaign like mission over the last week meeting with investors and throwing parties to try and get investors to purchase there stock on IPO day. Facebook is hoping to raise a 1 billion dollars with there IPO there stock is going to open at approximately $35 dollars a share. Over the past month or 2 Facebook has been trying to beef up there IPO the most recent attempt was the purchase of Instagram for 1 billion dollars. In 9 days Facebook will IPO with a stock symbol of (F) for Mark Zuckerberg sake lets hope the F stands for fantastic rather then failure.