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Thursday, April 25, 2024

Facebook plans $5bn stock market debut

Facebook plans $5bn stock market debut(San Francisco) – Facebook, the world’s largest social network has filed to make $5bn stock market debut that would be Silicon Valley’s largest-ever initial public offering.

With over 845 million monthly active users, Facebook has said that its net income had risen 65%. Based in Menlo Park, California, Facebook hopes to list its stock under the ticker symbol “FB”‘ on the New York Stock Exchange or Nasdaq.

Mark Zuckerberg, CEO of Facebook, in a letter accompanying the filing documents said, “We often talk about inventions like the printing press and the television. Today, our society has reached another tipping point. There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future”.

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