By Allie Herzog Unless you live under a rock you already know that today is a historic day. When we're old and gray we'll look back on this day and tell our grandchildren exactly where we were when Zuck "remotely" rang the bell at the NASDAQ - OK maybe not, but you get the point. Unless you're a Facebook employee, Sean Parker, or Bono (did you know he owns 1.5% of Facebook??) you're probably not raking in the millions today - so what does this IPO thing mean to you and me? Read on for the lowdown!
Who: Facebook - duh!
What: Launched its IPO at $38 per share making it the largest tech IPO of all time, behind previous record-holder Google. Facebook's is the third-largest IPO ever by a US company, right behind Visa and GM.
When: May 18, 2012
Where: In typical Zuck fashion, rather than being at the NASDAQ headquarters in Times Square, NYC he opted to ring the bell remotely from Facebook's headquarters in Menlo Park, CA. Leading up to the big event, Facebook hosted an all night Hack-a-thon for all employees at their offices.
Why: In a nutshell, Facebook's IPO is a way for the company to raise lots of money very quickly. The rich will get richer and the company will be able to expand even further.
1) Facebook Ads will become even more critical because they are the main form of revenue for Facebook. Expect expansion of the ad platform and even greater focus on this as a key advertising method for large brands.
2) Expansion of Facebook into even more ventures. Some sources speculate that Facebook will move into the direction of Yelp, Groupon and even Craigs List.
3) Greater focus on privacy. What was once for the most part unregulated will now have a lot more eyeballs.
Still want more? Check out some of the best (funniest) tweets from this morning:
Will you be purchasing some $FB stock today? Why or why not?