Facebook IPO more fizz than pop

week in review Shares in the social network have a rocky trading start, while resumegate spells the end of Yahoo CEO's term. Also: HTC phone imports held up by Customs.

week in review The world's largest social-networking company finally went public -- but the event lacked the punch many had expected from the third-largest IPO in history.

After a 30-minute delay in the stock's anticipated opening, shares took observers on a bit of a rollercoaster ride , shooting up to $43.20 from their $38 opening and then dropping back down to a break-even price.

The company raised $16 billion on the sale of 421.2 million shares in the offering, putting it at a valuation of $104.1 billion.

Facebook's IPO maneuver (roundup)

Facebook raises $16 billion in the largest Internet IPO in history, almost 10 times what Google raised when it went public in 2004.
•  After Facebook IPO, Zuckerberg's hardest test awaits
•  Trickle-down Zuckonomics and the Facebook IPO hackathon
•  Should Facebook, Zynga consummate symbiotic relationship?
•  Zynga trading again after stock gets crushed by Facebook IPO
•  Twitter predicts Facebook's first closing day price

Study: You're not clicking on Facebook ads -- and you never will

Greenlight, a digital-marketing agency, says that 44 percent of survey respondents said they "never" click on ads on the social network.
•  GM to yank $10M in Facebook ads, saying they don't work
•  Facebook is a fad, say half of people polled
•  GM and its Facebook ads: The knives are out

Facebook's Saverin: I'm a 'global citizen,' not a tax dodger

Company co-founder who, it was recently revealed, renounced his U.S. citizenship says the decision had nothing to do with the blockbuster IPO and taxes.
•  U.S. senators take aim at Saverin over citizenship move
•  Unfriend: What drove Zuck to fire Saverin

More headlines

Yahoo boots Thompson, names Ross Levinsohn interim CEO

A resume error brings down not only CEO Scott Thompson, but also four of Yahoo's directors. A settlement with investor Daniel Loeb will put him and two allies on the Internet pioneer's board.
•  Thompson leaves Yahoo with no severance
•  Ousted Yahoo CEO has cancer, WSJ reports
•  Meet Yahoo's new (interim) CEO, Ross Levinsohn
•  Yahoo interim CEO may need to gear up to be permanent CEO

HTC phone imports held up over Apple dispute

The One X and Evo 4G LTE are being delayed indefinitely by U.S. Customs officials over patent infringement issues.
•  Judge tells Apple and HTC to start talking settlement
•  Apple wants to squelch five Google patents issued to HTC
•  HTC One X delay benefits Lumia 900 at AT&T
•  Apple gets green light to seek Samsung tablet ban in U.S.
•  Apple in iPhone talks with China Mobile

Pinterest pins down $100M in new funding

Japanese e-commerce giant Rakuten says it is leading a $100 million round of funding in the social photo-sharing site. That could put its valuation at $1.5 billion.
•  Why did Rakuten invest so much in Pinterest? Integration

Oracle could end up with nothing in its Java suit, judge warns

Oracle makes a last-stand effort on trying for infringer's profits, but possibly reopens the door for accepting statutory damages.
•  Google sums up: No 'shred of evidence' for patent claim

Google said to bring Android to multiple mobile-device makers

In a move to assume more control over apps and sales of cell phones and tablets, the Web giant is rumored to start releasing Android software to several mobile-device makers at once.
•  Android continues to conquer the world
•  Even Google was blindsided by Android's success
•  What Android fragmentation really looks like

EU regulators: We'll scrutinize Windows RT browser behavior

European competition overseers "will remain vigilant" that Microsoft abides by an antitrust deal involving Windows and browsers, but that still leaves plenty of wiggle room.
•  Limited debut for Windows RT devices

Consumer e-book suit against Apple, publishers gets go-ahead

Judge nixes request from Apple, publishers to dismiss class action lawsuit alleging collusion to reduce retail competition.
•  New details reveal Steve Jobs involved in e-book lawsuit

Also of note
•  Virgin Atlantic launches in-flight cell use
•  'Steve Jobs' biography to become Aaron Sorkin movie
•  U.S. cybersecurity chief Howard Schmidt retiring

 

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