#Media meta full
On May 25, 2012, the stock ended its first full week of trading at $31.91, a 16.5% decline. The stock nonetheless set a new record for trading volume of an IPO. The opening was widely described by the financial press as a disappointment. At closing bell, shares were valued at $38.23, only $0.23 above the IPO price and down $3.82 from the opening bell value. The stock struggled to stay above the IPO price for most of the day, forcing underwriters to buy back shares to support the price. Trading in the stock, which began on May 18, was delayed that day due to technical problems with the Nasdaq exchange. Writers at TechCrunch, on the other hand, expressed skepticism, stating, "That's a big multiple to live up to, and Facebook will likely need to add bold new revenue streams to justify the mammoth valuation." Jimmy Lee of JPMorgan Chase described it as "the next great blue-chip". The New York Times stated that the offering overcame questions about Facebook's difficulties in attracting advertisers to transform the company into a "must-own stock". corporations-surpassing heavyweights such as Amazon, McDonald's, Disney, and Kraft Foods-and made Zuckerberg's stock worth $19 billion. The stock price left the company with a higher market capitalization than all but a few U.S. The IPO raised $16 billion, making it the third-largest in US history (slightly ahead of AT&T Wireless and behind only General Motors and Visa). On May 16, one day before the IPO, Facebook announced it would sell 25% more shares than originally planned due to high demand. Underwriters valued the shares at $38 each, valuing the company at $104 billion, the largest valuation to date for a newly public company. After the IPO, Zuckerberg would retain a 22% ownership share in Facebook and would own 57% of the voting shares. The preliminary prospectus stated that the company sought to raise $5 billion, had 845 million monthly active users, and a website accruing 2.7 billion likes and comments daily. Historyįacebook filed for an initial public offering (IPO) on January 1, 2012. According to Meta, the term "metaverse" refers to the integrated environment that links all of the company's products and services. On October 28, 2021, the parent company of Facebook changed its name from Facebook, Inc., to Meta Platforms, Inc., to "reflect its focus on building the metaverse". In 2021, the company generated 97.5% of its revenue from the sale of advertising.
It has acquired Reality Labs, Mapillary, CTRL-Labs, Kustomer, and has a 9.99% stake in Jio Platforms. Meta's products and services include Facebook, Instagram, WhatsApp, Messenger, and Quest 2. It is considered one of the Big Five American information technology companies, alongside Alphabet ( Google), Amazon, Apple, and Microsoft. Meta is one of the world's most valuable companies and among the ten largest publicly traded corporations in the United States. The company owns Facebook, Instagram, and WhatsApp, among other products and services. Meta Platforms, Inc., formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California.
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