Today, social network Facebook went public for $38 per share at a total valuation of $104 billion. Founder, CEO, and now multi-billionaire Mark Zuckerberg rang the opening bell for the Nasdaq from his company’s headquarters in Menlo Park, California, this morning. Naturally, he was wearing his signature hoodie.
Facebook is selling 421,233,615 shares of common stock to raise $12 billion in capital. This is the largest technology IPO in history. Under the ticker symbol “FB,” Facebook shares are currently up over 5% to more than $40, pushing the company’s valuation to $110 billion.