December 24, 2012

2012 Technology Year in Review: Facebook IPO (May)

On May 18, 2012, Facebook held its Initial Public Offering, which was valued above $104 billion, making it the largest in internet history. Stocks debuted at $38 each, which many considered as overpriced. Many problems plagued the IPO, including a delay due to computer failures at NASDAQ. In the aftermath, investors filed lawsuits against Facebook, Morgan Stanley (the primary underwriter), and NASDAQ. Recently, Morgan Stanley was fined $5 million for the incident. The delay resulted in some orders not going through, and when they did, investors already had lost millions of dollars in the process.

Deon Hua is the Editor-in-Chief at [blank]’s Universe. He is also a technology enthusiast with his expertise in computers and Pro Audio and Lighting. You'll probably catch Deon writing a movie review when he has time.