Zuckerberg Initiates IPO
As per reports, it has been revealed that Facebook is soon going to be included in the list of public traded mechanism as it going to go public by introducing initial public offering. It is said that Mark Zuckerberg, who is the first stake holder and chief executive officer of Facebook is going to give a stiff completion to Google and other social media giants.
Experts told that Zuckerberg's shares are worth 533.8 million and is going to make him riche richer than Google Inc and Oracle Corp. Many have been seeing this as an opportunity to test Zuckerberg and told that now they would get to know whether he is a smart business man or not.
The reports revealed that Facebook is expecting to raise as much as $5 billion in an initial public offering. Some of the people close to the matter told that Zuckerberg would own stocks worth $28.4 billion. This would fetch him a lot more power, said Rebecca Lieb, who is an analyst at Altimeter Group in New York.
Lieb further affirmed, "He's shown a great deal of wisdom and maturity in bringing the company to this level of stability and profitability before going public". It shall however be noticed that only Zuckerberg would be allowed to sell his stake. This means that other shareholders would have to wait till the time so-called lockup period gets over.
Other stakeholders are not able to resist as they are poised for riches. Some of the other partners, who own a large percentage in Facebook, are Dustin Moskovitz. He is the co-founder of Facebook and has shares worth 133.8 million and own 7.8% in the company. Another big owner of Facebook is Chief Operating Officer Sheryl Sandberg. He owns 1.9 million shares.