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Latest Facebook Items
After years of mortifying missteps, Yahoo Inc. finally has something to boast about: a multibillion-dollar windfall from a savvy investment in China.
Facebook Inc. stock has dropped below the initial public stock offering price in premarket trading Monday, an inauspicious start to the company's first full week of trading after its market debut Friday suffered some hiccups.
Facebook CEO Mark Zuckerberg outlined five core values for Facebook in a letter to potential investors. The letter appeared in regulatory filings that Facebook Inc. first submitted in February for its initial public offering of stock.
The lukewarm response to Facebook Inc.'s initial public offering sent shares of other social-media companies tumbling Friday.
Facebook Inc. sold 180 million of its shares in its initial public stock offering. Another 241.2 million came from existing stockholders, including the company's earliest investors and CEO Mark Zuckerberg.
It looks like it will take more than Facebook's initial public offering to push stocks up.
Facebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance and online advertisers' money. The duel is likely to intensify now that the IPO has given Facebook Inc.'s social network billions of dollars to battle Google Inc.'s dominant search engine.
Key developments in the eight years since Facebook Inc.'s creation:
Mark Zuckerberg is selling 30.2 million shares as part of Facebook Inc.'s initial public offering of stock. With shares priced at $38 each, he's receiving $1.15 billion.