Well there you have it, Facebook is now a publicly-traded company. The social networking giant opened this morning at $42.05 per share. It instantaneously hit $42.99, up 13% on expected £38, valuing it at $117.82 billion, but rapidly fell back to under $39.
Of course the day is not out yet, but for now The WSJ is calling it a big disappointment. It’s certainly somewhat of an anticlimax for arguably the most-hyped IPO of all time.
So it’ll be interesting to see what it closes at. In the meantime, let’s not forget what going public could actually mean for the future of the platform, and for the brands making use of it. This piece from WWD is therefore worth a read: Fashion world mulls IPO impact.
In it, David Duplantis, executive vice president, global web and digital media at Coach, says: “Facebook has changed the world and brands and people have truly benefited. It’s going to be fascinating to see how Facebook evolves post-IPO. I believe advertising will become a bigger priority, and that, coupled with continued innovation, means the opportunities are limitless for both Facebook and the fashion industry.”
Stay tuned, I’d say.