Facebook IPO -images from the first minutes of trading on NASDAQ

May 18, 2012

Business

Facebook stock opens as investors flock to get shares
The history-making Facebook stock market debut opened with initial heavy volume of 82 million shares in the first 30 seconds.
 
By: Jeff Cox
CNBC.com Senior Writer
 
After an attention-grabbing half-hour delay, Facebook’s history-making stock market debut saw the company’s shares seesaw through early trading before settling higher.
 
Facebook shares [FB  40.95    2.95  (+7.76%)   ] finally opened at $38 but the price didn’t last long, briefly gaining 11 percent but then subsiding on the company that started in a Harvard University dorm room and became, with Friday’s trading, a more than $100 billion behemoth.
 
After 30 minutes of trading, the stock defied most analyst predictions by holding only modest gains as sell-order backlogs hit the share price.
 
Conversely, big nderwriters such as Morgan Stanley and others seemed to support the price once it hit the breakeven level.
 
Some 82 million shares changed hands in the first 30 seconds and volume passed 100 million after four minutes.
 
The opening was marred by a lengthy delay that had traders dumbfounded as to how one of the largest IPOs in history could have been mishandled. Traders apparently had trouble changing or canceling orders ahead of the offering, according to the Wall Street Journal.
 
As for Facebook, the price quickly moved above $40 and initially was expected to head much higher before the trading day ends.
 
Of 17 previous IPOs to price above their initial ranges, they posted first-day gains on average of 45 percent, according to Dealogic.
 
But the stock struggled as some of its peers got socked.
 
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Video: Mark Zuckerberg rings the NASDAQ bell before Facebook IPO

 

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Source: CNBC
 
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Market close day 1
 
 
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Mark Zuckerberg wrote Facemash, the predecessor to Facebook, on October 28, 2003, while attending Harvard University as a sophomore. Facebook was incorporated in mid-2004, and the entrepreneur Sean Parker, who had been informally advising Zuckerberg, became the company’s president.
 
In June 2004, Facebook moved its base of operations to Palo Alto, California. 
 
Facebook received its first investment from PayPal co-founder Peter Thiel.
 
The company purchased the domain name facebook.com in 2005 for $200,000.
 
On October 24, 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million, giving Facebook a total implied value of around $15 billion.
 
In early 2011, Facebook announced plans to move to its new headquarters, the former Sun Microsystems campus in Menlo Park, California.

Facebook’s plans to expand its headquarters in Menlo Park, California, got an initial OK in May 2012 from the city planning commission.

 
 
 
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Facebook’s first data center in Lulea, Sweden
 
 
In January 2011, Facebook announced plans for its first custom data center in Prineville, Oregon.
Facebook’s second data center in Prineville, Oregon
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Facebook announced in November 2011 it will build a new $450 million data center in Forest City, North Carolina, which will open in 2012. The data center, located about 60 miles outside of Charlotte.  
 
The American Airlines Center home to the NBA’s Dallas Mavericks and NHL’s Dallas Stars had a construction cost of $420 million in 1999 ($551 million in 2012 dollars). It opened in 2001.
 
Rendining of Forest City data center
 
An April 2, 2012 aerial view of the new Facebook data center in Forest City, North Carolina. (Photo: Facebook).
 
Facebook will have space to build 4 more buildings across its 3 data center sites.
 
North Carolina is home to several high-tech data centers. Apple is set to open one in Maiden, NC.  Google also has a $600 million data center in Lenoir, NC. In February 2011, IBM announced that it would build a new, $362 million data center at its Research Triangle Park campus.
 
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