Zuckerberg’s biggest deal so far came when he agreed to buy Instagram, a maker of a popular mobile app for photos, for $1 billion in April. Because most of the deal is being paid for in stock, Instagram is already getting richer. Based on Facebook’s current share price, Instagram is in line to receive about $1.2 billion.
Friday’s debut, though, resulted in deals worth much less.
Alper Aydinoglu, a DePaul University student who got 50 shares via Etrade at $38, said he was “disappointed with the first day of trading.”
His gain on paper: $11.50, but that was before Etrade’s standard commission of $9.99.
Aydinoglu still called it an excellent learning opportunity.
“On top of everything, I now have the bragging rights that I participated in one of the most popular IPOs of all time.”
AP Technology Writers Michael Liedtke in San Francisco and Peter Svensson in New York, Associated Press Writer Marcus Wohlsen in Menlo Park, Calif., and AP Business Writers Bernard Condon, Pallavi Gogoi and Joseph Pisani in New York contributed to this story.