The initial public offering raised $16 billion (60% more than the expected $10 billion). (source: bloomburg.com).
When Facebook finally went public on May 17, 2012 (NASDAQ:FB) it would become infamous for having the worst stock disaster ever in the history of the U.S. equities market.
There was a computer glitch which forced thousands of independent investors to sell their stocks at a loss. Big institutional investors were not impacted as they were able to sell quickly. Unfortunately, that was not the case for small retail investors (everyday folks like me and you) who were unable to put in sell orders. Instead they watched helplessly as their FB stock share prices plummeted.
Quoteable Quote about Facebook choosing Nasdaq:
“Facebook on NASDAQ due to cultural fit" ~~ Charles Gasparino, senior correspondent Fox Business Network, prior to FB's IPO in 2012
- FB: Summary for Facebook, Yahoo Finance http://finance.yahoo.com/q?s=FB
- The Immaculate IPO: What Twitter (NYSE:TWTR) Did Differently From Facebook (NASDAQ:FB) During Their IPO, IB Times, http://www.ibtimes.com/immaculate-ipo-what-twitter-nysetwtr-did-differently-facebook-nasdaqfb-during-their-ipo-1461108
- Why the Facebook (Nasdaq FB) Stock Price Will Double by 2018, Money Morning; http://moneymorning.com/2015/03/05/why-the-facebook-nasdaq-fb-stock-price-will-double-by-2018/
- Facebook IPO Makes Zuckerberg Richer Than Google Founders, Bloomberg.com; http://www.bloomberg.com/news/articles/2012-05-17/facebook-ipo-makes-zuckerberg-richer-than-google-founders