Mark Zuckerberg Opens Facebook IPO By Remotely Ringing Nasdaq Bell

By on May 19, 2012 in Business, Stock Market, Technology, United States, World Comments
Mark Zuckerberg

Mark Zuckerberg
Image Credit: Facebook

Mark Zuckerberg remotely rang the bell to open Nasdaq on Friday, May 18, 2012, according to reports by several international news sites. Zuckerberg was wearing a dark hooded sweatshirt during his remote opening of Facebook IPO.

Reports say that Zuckerberg and hundreds of Facebook employees in its California headquarters cheered as the 28-year-old co-founder rang the bell via video for the New York-based Nasdaq.

The Facebook IPO is considered as the richest initial public offering for a technology firm.

Facebook stock, under the “FB” symbol, reportedly hit $45 per share during its initial trading after opening at $42.05 late Friday morning. However, as of posting Facebook shares has slide down to $39 per share.

The social networking giant has a market value of $104 billion. The Facebook IPO reportedly raised over $16 billion.

Reports say that under the share plan, Zuckerberg will hold 55.8 percent of the voting power of Facebook shares, and over 18 percent of the value of the company.



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