Crazy to think it was a year ago Mark Zuckerberg made the announcement that his once dorm room-based Internet website gone berserk would be made into a public offering.
And now that it has, The United States of America can thank Mark Zuckerberg for his IPO for two reasons: it’s putting $1.5 billion in the funds department that wasn’t there before, which is a considerable amount (the currently-held debt the US is $15,320,649,000,000, and steadily increasing—amounting to an average $48,951 of debt per person). Also, it’s gives developers a chance to exceed their brand more through Facebook’s app opportunities.
On top of the federal debt, Zuckerberg will also pay 10% to the state of California. The Financial Times reports, “With the stock changing hands in private secondary markets at nearly $40 a share that is set to leave him with a gain of some $4.8 billion. The profit would rise to $6bn if the company reaches the $100 bn IPO valuation some of investors have predicted.”
This is extraordinary for Facebook, investors, and the general economy. And it looks like things are shaping up job-wise, too—this past January the United States created 243,000 jobs, shrinking the unemployment rate to 8.3%.
As companies like Facebook and Apple continuously succeed, it gives us hope that we’ll be well on our way to some sort of recovery on a larger scale soon.
(via Pando Daily via The Financial Times; photo via Entmoney)
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