News / Economy

    Facebook Boosts Its Initial Stock Price

    News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.
    x
    News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.
    News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, May 15, 2012.

    Social media giant Facebook says it is raising the price of the company stock it is offering to the public.
     

    The Internet-based social network site had initially said the more than 337 million shares of stock it is selling would be priced between $28 and $35 a share. But with strong demand for the stock from large institutional investors, Facebook said Tuesday it is boosting that range to between $34 and $38 a share.


    Facebook plans to set the exact price Thursday, and start selling stock on Friday.

    With the sale of more than 12 percent ownership of the company to the public, Facebook could raise more than $12 billion.


    Facebook founder Mark Zuckerberg, who turned 28 on Monday, started the company eight years ago in his college dorm room at Harvard. He will still own 57 percent of the company's voting stock, even after selling some of his shares to meet U.S. tax obligations.


    But a co-founder, Brazilian-born Eduardo Saverin, says he is renouncing his U.S. citizenship and taking up residency in Singapore in order to avoid hundreds of millions of dollars in U.S. taxes on the 4 percent stake he has in the company. Unlike the U.S., Singapore has no tax on profits made from the sale of stock in a company.


    While large investors have voiced widespread interest in buying Facebook shares, not everyone is convinced an investment in the company will prove worthwhile.


    A new survey in the U.S. by the Associated Press and the CNBC television network showed that half of those polled thought that use of Facebook is a passing fad, and that its stock price is too high. Younger people, among Facebook's biggest adherents, viewed the stock offering more favorably than older people who have been much less frequent users of the web site.

     

    Some information for this report was provided by AP, AFP and Reuters.

    You May Like

    Wife of IS Leader Charged in Death of US Hostage

    Suspect allegedly admitted to being responsible for American aid worker Kayla Mueller, who officials say was sexually abused and ‘owned’ by one IS member

    Year of the Monkey Could Prove Economic Balancing Act for China

    China is up against a tricky situation on the financial front, facing the need to fight capital flight while also stopping a further slide of foreign currency reserves

    Runners Attempt 26-mile South Pole Marathon in Sub-Zero Temperatures

    How alluring is running 26.2 miles at 10,000 feet when it’s minus 31 Celsius out?

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: breemnkeype
    May 16, 2012 9:34 AM
    <a href=http://cheaplthandbagsoutlet.info>louis vuitton bags</a> have many series, includes Monogram Canvas, Damier Handbags, Multicolor Handbags and Mini Lin, ect.
    All of these replica <a href=http://louisvuitton-handbagsau5.info>louis vuitton bag</a> we provide are virtually indistinguishable from the authentic ones.
    We have been trying every effort to offer the best service, the guidance of every step to purchase our <a href=http://louisvuitton-handbagsau5.info>bags louis vuitton</a> products is available on our website.
    they usually are specially best to women of all ages intended for with whom <a href=http://2012ltwalletsale.info>handbags louis vuitton</a> form part while using the garments.
    Presently, a big a number of suppliers deliver <a href=http://2012ltwalletsale.info>louis vuitton handbags</a> around the world.

    by: liaibewPoisse
    May 16, 2012 9:29 AM
    As we know,<a href=http://christianlouboutinsalestore.info>christian louboutin sale</a> producer by its extensive well-known company, this will be a great love and Cheap Christian Louboutin supply of design girls like shoes,Christian Louboutin purse and Christian Louboutin wrist timer,etc.
    Far better not surrender <a href=http://cheapshoesonlineheels.info>wedding shoes</a> fashion accessory in addition to the trend setting will not let go you.
    This prolonged different really definitely femme exactly who understands develop noticeably supplementary alternatively a lower amount, unquestionably gain listens about inside the type of name <a href=http://louboutinshoespumps.info>louboutin boots</a>.
    Qiu dong is <a href=http://christianlouboutinsalestore.info>christian louboutin sales</a>, conventional dominant,bleak colors in print and colored ep-red-with and environmental protection to decorate,this can be straightforward shoes guarantee and special.
    The red soles are the signature of <a href=http://christianlouboutinonsale.info>louboutin christian</a> highlighting the female sweet and lovely, beautiful and sexy Matural.

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    'No Means No' Program Targets Sexual Violence in Kenyai
    X
    February 08, 2016 4:30 PM
    The organizers of an initiative to reduce and stop rape in the informal settlements around Kenya's capital say their program is having marked success. Girls are taking self-defense classes while the boys are learning how to protect the girls and respect them. Lenny Ruvaga reports from Nairobi.
    Video

    Video 'No Means No' Program Targets Sexual Violence in Kenya

    The organizers of an initiative to reduce and stop rape in the informal settlements around Kenya's capital say their program is having marked success. Girls are taking self-defense classes while the boys are learning how to protect the girls and respect them. Lenny Ruvaga reports from Nairobi.
    Video

    Video New Hampshire Voters Are Independent, Mindful of History

    Once every four years, the northeastern state of New Hampshire becomes the center of the U.S. political universe with its first-in-the-nation presidential primary. What's unusual about New Hampshire is how seriously the voters take their role and the responsibility of being among the first to weigh in on the candidates.
    Video

    Video Chocolate Lovers Get a Sweet History Lesson

    Observed in many countries around the world, Valentine’s Day is sometimes celebrated with chocolate festivals. But at a festival near Washington, the visitors experience a bit more than a sugar rush. They go on a sweet journey through history. VOA’s June Soh takes us to the festival.
    Video

    Video 'Smart' Bandages Could Heal Wounds More Quickly

    Simple bandages are usually seen as the first line of attack in healing small to moderate wounds and burns. But scientists say new synthetic materials with embedded microsensors could turn bandages into a much more valuable tool for emergency physicians. VOA’s George Putic reports.
    Video

    Video Bhutanese Refugees in New Hampshire Closely Watching Primary Election

    They fled their country and lived in refugee camps in neighboring Nepal for decades before being resettled in the northeastern U.S. state of New Hampshire -- now the focus of the U.S. presidential contest. VOA correspondent Aru Pande spoke with members of the Bhutanese community, including new American citizens, about the campaign and the strong anti-immigrant rhetoric of some of the candidates.
    Video

    Video Researchers Use 3-D Printer to Produce Transplantable Body Parts

    Human organ transplants have become fairly common around the world in the past few decades. Researchers at various universities are coordinating their efforts to find solutions -- including teams at the University of Pennsylvania and Rice University in Houston that are experimenting with a 3-D printer -- to make blood vessels and other structures for implant. As VOA’s Greg Flakus reports from Houston, they are also using these artificial body parts to seek ways of defeating cancerous tumors.
    Video

    Video Helping the Blind 'See' Great Art

    There are 285 million blind and visually impaired people in the world who are unable to enjoy visual art at a museum. One New York photographer is trying to fix this situation by making tangible copies of the world’s masterpieces. VOA correspondent Victoria Kupchinetsky was there as visually impaired people got a feel for great art. Joy Wagner narrates her report.
    Video

    Video Sanders, Clinton Battle for Young Democratic Vote

    Despite a narrow loss to former Secretary of State Hillary Clinton in last week's Iowa Democratic caucuses, Vermont Senator Bernie Sanders secured more than 80 percent of the vote among those between the ages of 18 and 29. VOA correspondent Aru Pande talks to Democrats in New Hampshire about who they are leaning towards and why in this week's primary.
    Video

    Video German Artists to Memorialize Refugees With Life Jacket Exhibit

    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video E-readers Help Ease Africa's Book Shortage

    Millions of people in Africa can't read, and there's a chronic shortage of books. A non-profit organization called Worldreader is trying to help change all that one e-reader at a time. VOA’s Deborah Block tells us about a girls' school in Nairobi, Kenya where Worldreader is making a difference.
    Video

    Video Genius Lets World Share Its Knowledge

    Inspired by crowdsourcing companies like Wikipedia, Genius allows anyone to edit anything on the web, using its web annotation tool
    Video

    Video In Philippines, Mixed Feelings About Greater US Military Presence

    In the Philippines, some who will be directly affected by a recent Supreme Court decision clearing the way for more United States troop visits are having mixed reactions.  The increased rotations come at a time when the Philippines is trying to build up its military in the face of growing maritime assertiveness from China.  From Bahile, Palawan on the coast of the South China Sea, Simone Orendain has this story.
    Video

    Video Microcephaly's Connection to Zika: Guilty Until Proven Innocent

    The Zika virus rarely causes problems for the people who get it, but it seems to be having a devastating impact on babies whose mothers are infected with Zika. VOA's Carol Pearson has more.
    Video

    Video Stunning Artworks Attract Record Crowds, Thanks to Social Media

    A new exhibit at the oldest art museum in America is shattering attendance records. Thousands of visitors are lining up to see nine giant works of art that have gotten a much-deserved shot of viral marketing. The 150-year-old Smithsonian American Art Museum has never had a response quite like this. VOA's Julie Taboh reports.

    World Currencies

    EUR
    USD
    0.9008
    JPY
    USD
    116.30
    GBP
    USD
    0.6957
    CAD
    USD
    1.3951
    INR
    USD
    68.033

    Rates may not be current.