On May 18, Facebook (FB) announced it had acquired mobile gift-giving app Karma. There was other Facebook news that day, but lost in the hullabaloo was the fact that the deal was the social network’s second-largest acquisition to date. It totaled more than $80 million, according to two people familiar with the transaction who asked not to be named because the deal’s terms were private. Karma is a 16-person startup that debuted its first smartphone app in February. But unlike past acquisitions, where Facebook bought small companies mostly for their talented engineers, the social network plans to continue running Karma’s service and regards the purchase as an important step into the business of online commerce, say the sources. It’s also a bet that gift-shopping, a ... Continue reading →
Morgan Stanley’s Gorman Said to Join Facebook Call on IPO Price By Serena Saitto and Douglas MacMillan - 2012-05-24T00:31:56Z Enlarge image Morgan Stanley CEO James Gorman James Gorman, chief executive officer of Morgan Stanley. James Gorman, chief executive officer of Morgan Stanley. Photographer: Scott Eells/Bloomberg May 23 (Bloomberg) -- Ken Polcari, a managing director at ICAP Plc's equities unit, talks about Facebook Inc.'s initial public offering and its listing with Nasdaq OMX Group Inc. He speaks with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg) Enlarge image Morgan Stanley’s Gorman Said to Join Facebook Call on IPO Price Facebook shares tumbled 16 percent through yesterday. Facebook shares tumbled 16 percent through yesterday. Photographer: Scott Eells/Bloomberg As Facebook Inc. (FB) and Morgan Stanley (MS) executives ... Continue reading →
SUBSCRIBE to Next Media Animation: http://www.youtube.com/subscription_center?add_user=NMAWorldEdition Facebook has gone public in an IPO that could raise more than $18 billion. Facebook priced its IPO at $38 per share and is selling 180 million shares in the IPO. The shares notched up big opening gains amid high demand and frenzied trading on the NASDAQ stock market under the ticker FB.Facebook: http://www.facebook.com/NMAtvWebpage: http://www.nma.tv/Twitter @nmatv: https://twitter.com/#!/nmatvTumblr: http://nmatv.tumblr.com/If underwriters exercise a greenshoe option, Facebook could raise as much as $18.4 billion, making Facebook's IPO the second-largest initial public offering in history, surpassing the value of General Motors' IPO.Insiders have found no shortage of investors to fleece. Goldman Sachs doubled the amount of its own holdings sold in the IPO. It begs the question: if Facebook is worth owning, then ... Continue reading →
The Underwhelming Scene Outside Facebook HQ Anthony Ha is a writer at TechCrunch, where he covers media, advertising, and startups. Previously, he was a staff technology writer at Adweek, worked as a senior editor at the tech blog VentureBeat, and was also a reporter at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing.... → Learn More Well, they warned us. Yesterday, Facebook PR was telling reporters that when the company went public this morning, there wouldn’t be much to see at the Menlo Park headquarters. Nonetheless, I made the drive down from San Francisco, and I wasn’t alone. When I arrived at around 6:30 a.m. Pacific, the small parking lot set aside for ... Continue reading →
