If you were around last week you may have heard about a little website called Facebook having its Initial Public Offering. Well, after the dust settled, it turns out that little website called Facebook is pretty big. Bigger than a little restaurant called McDonald’s.
Facebook’s first day as a publicly traded company saw them worth a whopping $105.19B, which is roughly as much as Pepsi. This put them ahead of McDonald’s (worth $91B), Amazon ($96B), Disney ($78B), VISA ($92B) and Volkswagon ($70B). They’re still lagging behind some of the biggest juggernauts in the tech industry, such as Apple ($496B), Microsoft ($246B), and Google ($196B) and some non-techies such as Coca-Cola ($167B) and Walmart ($212B). It is, however, the largest IPO in history, and Facebook is clearly not hurting for cash at the moment, despite a small delay in entering the market: Facebook (FB) was supposed to enter the NASDAQ at 11 AM on May 18, but there was a huge overload on the systems that reportedly caused a delay of 30 minutes. Some analysts are saying this put a dent in Facebook’s IPO results. Mark Zuckerberg could not be reached for comment, as he was busy lighting fire to thousand dollar bills and throwing them into his swimming pool made of gold.
Source: Mashable
