Facebook went public at $38 per share

Facebook finally went public at a price of $38 per share. On Friday, 18 May 2012, Facebook CEO Mark Zuckerberg rang the Nasdaq opening bell from his corporations headquarters in Menlo Park, California.

I don’t have any records on this, but Mark Zuckerberg is perhaps the first person ever to ring the Nasdaq bell while wearing a hoodie. If you have been following Facebook IPO news lately, you will know that Mark’s hoodie got quite a bit of attention from business analyst. He has been showing up at high stakes investor meetings last week wearing the hoodie instead of a traditional suit. Analyst Michael Pachter said on a Bloomberg TV interview that wearing a hoodie instead of a suit is a mark of immaturity. It shows that he doesn’t care much.

But come on. To be fair, every big tech company CEO needs a signature attire. Steve Jobs has his black turtleneck and jeans. Mark Zuckerberg has his hoodie. That’s their style. And if wearing a hoodie can make him a billionaire at such a young age, it only shows that dress code doesn’t really matter here. Just look at Yahoo’s ex-CEO Scott Thompson. He wears a suit most of the time and look what happen now?

Facebook’s stock opened at around $42 a share. The stock was unable to stay above those levels and has been trading between $38 and $42 for much of the day. Facebook stock price closed at $38.23. Stock prices of Zynga, Groupon and LinkedIn went down on Friday after Facebook IPO.

Interestingly, IPO seems like a non-event to Facebook and Mark Zuckerberg. It’s business as usual. On the same day, Facebook announced that they bought over a social gifting company called Karma. The very next day, Mark married his longtime girlfriend, Priscilla Chan. Congrats!

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