Facebook IPO more fizz than pop

<b>week in review</b> 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.

Steven Musil Night Editor / News
Steven Musil is the night news editor at CNET News. He's been hooked on tech since learning BASIC in the late '70s. When not cleaning up after his daughter and son, Steven can be found pedaling around the San Francisco Bay Area. Before joining CNET in 2000, Steven spent 10 years at various Bay Area newspapers.
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Steven Musil
3 min read

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

The big winners of Facebook IPO (photos)

See all photos

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