Facebook is on top of the world. Its shares have reached an all-time high IPO price of $45 on Wednesday while while Apple shares see a downfall. And it has been a turbulent year. The future however looks rosy indeed for the world’s biggest social network.
The shares of Facebook went sky high by over 3% reaching $45. What that means is that currently the social network par excellence is worth at least $106 billion. The graph of progress so far has been a series of jagged edges that rose and fell. But today’s milestone was a triumph for Mark Zuckerberg and the staff of Facebook.
Zuckerberg spoke of how the IPO process had toughened Facebook considerably thereby making the wildly popular site a warrior among Internet concerns. He said, “I’m probably the person you would want to ask last how to make a smooth IPO, I was really worried that people would leave the company and that people would get really demoralized when the stock was down,” according to Bloomberg.
Some of the CEO’s fears and worries were unfounded as he himself admitted. Zuckerberg had created Facebook from humble beginnings in a Harvard dormitory. The decision to go public had paid off in the end.
The Internet has definitely been good to Facebook. With over 1.15 billion users spread throughout the global village, the site has been condemned for its facetiousness. Yet it is frequented by so many that the act of moral indignation seems more like jealousy surrounded with a halo.
It is the biggest online ad business and makes a whole lot of money from the activities that take place on it. Since its debut in the hot month of May in 2012, this is the first time that Facebook has hit the nail on the head (so to say). The mobile user base has grown by a whopping 51% and things are looking up.