Facebook makes its blockbuster market debut today, and as The New York Times points out, "the trading on Friday is the the equivalent of a must-see Super Bowl Sunday showdown for people who don’t ordinarily watch a football game." The social network's stocks have been priced at $38 a pop, which means the company is valued at $104 billion, making it the second biggest initial public offering ever. If the company's first day on Wall Street follows the tech trend, it could be worth $137 billion by the end of the day.
The next big, and potentially difficult step for the company will be proving it's worth the investment. The site already accounts for 9 percent of all web traffic in the United States, but it's going to need to grab more revenue as time goes on, which means more ads, more Farmville-esque spending opportunities, or breaking off into new territory like smartphones and data analytics.
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- The $1 Billion Club Gets Crowded The Wall Street Journal
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- Reticent Rich: Preferred Style in Silicon Valley The New York Times
Chart of the Day
A big debate is happening down in Texas over the cost of a college degree from state universities. While educators want to raise tuition to over $10,000 in order to make sure they can keep providing quality services and attracting top-tier talent, many others want to keep costs low to "make sure we are giving students the best bang for their buck."
Reason to Get Out of Bed in the Morning
Happy Friday! Here is a list of the best stuff ever, courtesy of Buzzfeed.
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