Facebook Announces $38 Pricing for IPO, $FB Symbol Confirmed

Facebook

Facebook PR:

Facebook (NASDAQ: FB) today announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on May 18, 2012, under the symbol “FB.” Facebook is offering 180,000,000 shares of Class A common stock and selling stockholders are offering 241,233,615 shares of Class A common stock. Closing of the offering is expected to occur on May 22, 2012, subject to customary closing conditions.

Rather than offer largely negative speculation, I choose to stand by what I wrote this morning.

Sitting on the precipice of its IPO — despite my somewhat pessimistic feelings otherwise — I tend to feel oddly hopeful for the social media giant. Not out of any particular sentiment specific to Facebook, but more toward the legitimization and prosperity of Internet business as a whole. Regardless of $FB’s prospective success, I derive great optimism from the maturation of the Internet as a means for producing a measured impact in even the most traditional of settings.