- U.S. chemical sites vulnerable despite millions spent on security: Congress
- Driverless cars to hit the British streets by 2015
- GOP presses to scrap IRS commissioner position — but put in panel
- New bill would make sure women in military can get free birth control
- Trafficking bust reveals worries over missing kids; minors as young as 11 found
- Catholic League slams Obama: ‘Do Christian lives mean so little to you?’
- National laboratory cancels ‘Southern Accent Reduction’ classes after outcry
- U.S. woman with Ebola is stable, improving, son says
- Belgium pushes for clear labeling of goods from Israeli settlements
- ‘Queen of Mean’ Leona Helmsley’s former home hits market for $65M
Road to IPO: Milestones in Facebook’s history
Question of the Day
August 2010: Facebook launches location feature, allowing people to share where they are with their friends and strangers.
June 2011: Google launches rival social network called Plus. The Winklevoss twins end their legal battle over the idea behind Facebook. They had settled with Facebook for $65 million in 2008, but later sought more money.
November 2011: Facebook agrees to settle federal charges that it violated users’ privacy by getting people to share more information than they agreed to when they signed up to the site. As part of a settlement, Facebook will allow independent auditors to review its privacy practices for two years. It also agrees to get approval from users before changing how the company handles their data.
December 2011: Facebook completes its move to Menlo Park, Calif. Its address is 1 Hacker Way.
January 2012: Facebook begins making Timeline mandatory.
February 2012: Facebook files for an initial public offering of stock. A few weeks later, it unveils new advertising opportunities for brands, allowing messages from them to mix in with Facebook status updates and photos.
April 2012: Facebook announces plans to buy Instagram, a photo-sharing social network, for $1 billion in cash and stock. It also discloses it plans to list its stock on the Nasdaq under the ticker symbol “FB.”
May 3, 2012: Facebook sets a price range of $28 to $35 for its IPO. The company and its early investors plan to sell 337.4 million shares. At the high end, that would raise as much as $11.8 billion, although not all goes to the company. Facebook’s offering values it at $76 billion to $95 billion.
May 7: Facebook begins a so-called road show. Executives travel to key cities to tell potential investors why they should invest in the stock. The first stop is New York.
May 8. Road show goes to Boston.
May 11: Facebook updates its policy to give users more clarity on how information they share is used by the company. The company also signals that it may start showing people ads on websites other than Facebook. Other companies already do this. How would that work? Users who click on an ad on Facebook.com could see the advertised product pop up in ads on other sites. Road show concludes in Palo Alto, Calif.
Tuesday: Facebook increases its price range for the IPO to $34 to $38 per share. At the high end, the sale would raise about $12.8 billion and values the company at $104 billion.
Wednesday: Responding to extraordinary demand, Facebook says it will add 84 million shares, worth up to $3.2 billion, to the IPO. That brings the total to 421 million shares, or $16 billion based on a rice of $38 per share, offered by Facebook and its early investors.
TWT Video Picks
- Patent workers paid to exercise, shop, do chores: report
- Fla. mom arrested for allowing 7-year-old son to walk to park alone
- CARSON: Rudderless U.S. foreign policy
- Catholic League slams Obama: 'Do Christian lives mean so little to you?'
- Obama thanks Muslims for 'building the very fabric of our nation'
- Federal judge grants 90-day stay in D.C. gun case
- Boehner rules out impeachment: 'Scam started by Democrats'
- Proving A Point: Redskins' Bacarri Rambo vows to make impact in second year
- Obama mum on where illegal immigrant children are sheltered
- National laboratory cancels 'Southern Accent Reduction' classes after outcry
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world