Facebook's Successful IDO

May 21st, 2012
in econ_news

zuckerberg-weddingSMALLEconintersect:  (Corrected, 9:58am New York time, 21 May 2012)  Yes, the headline has a typo, but perhaps not the one that you think.  The letters are all as they should be; the typo is a missing space.  The "IDO" should be "I DO".  Facebook CEO Mark Zuckerberg and new med school graduate Priscilla Chan tied the knot Saturday (20 May 2012) in the groom's backyard in  Palo Alto, CA.  The couple reportedly had been dating since 2002 or early 2003 when both were undergraduate students at Harvard.  The two had been a couple longer than Facebook and Zuckerberg have been a "pair." The company was founded in 2004 in Zuckerberg's college dorm roomClick on photo for larger image with readable caption.

Follow up:

The wedding was a surprise to the nearly 100 close friends who attended.  The event had been announced as a graduation party for Chan who received her MD from the University of California, San Francisco School of Medicine earlier in the week.

There have been no indications that the wedding went anything but flawlessly, which could not be said for the IPO (initial public offering) of Facebook stock the day before the couple exchanged vows.  As reported by GEI News, the NASDAQ stock exchange was not able to handle the trading volume the newly public stock created and investors greeted the newly available shares (NASDAQ:FB) with less than wild enthusiasm.  The stock closed the day barely above the $38 IPO price and that appeared to have happened only because the underwriters bought back stock to prevent it from falling below the initial price.

John Lounsbury


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