Facebook goes public (live blog) | CNET

Facebook goes public (live blog)

Blow-by-blow coverage of Facebook's initial public offering.

  • Iain Lennox 5/18/2012 4:21:45 PM
    Maybe FB should look at buying a software gaming firm and producing there own games and take on the likes of Zynga and gamesloft
  • lawrence.dignan 5/18/2012 4:22:09 PM
    I think FB buying Zynga could be a foregone conclusion.
  • Christopher MacManus 5/18/2012 4:22:16 PM
    CNET Live - Reporters' Roundtable on Facebook IPO: www.cnet.com
  • @mikojava 5/18/2012 4:22:17 PM
    According to prospectus as much as 19pct of FB revenue from Zynga
  • Roger Cheng 5/18/2012 4:22:37 PM
    @lawrence.dignan Thank you. I'm not just a crazy nerd. With such a large user base, Facebook could jump start a viable third mobile OS. Especially if Windows Phone keeps hitting a wall.
  • lawrence.dignan 5/18/2012 4:23:15 PM
    @mikojava, indeed you don't want that much revenue controlled by a partner
  • Roger Cheng 5/18/2012 4:23:26 PM
    Facebook just needs to wait for Zynga's stock to tank a bit further and it could scoop it up for pocket change.
  • Robert Santellan 5/18/2012 4:23:34 PM
    @Iain Lennox That would be wise when you consider that a big chunk of their revenues come fron Zynga.
  • Iain Lennox 5/18/2012 4:23:37 PM
    I agree Lawrence, but don't count out windows mobile yet but yes it has an uphill struggle
  • lawrence.dignan 5/18/2012 4:23:40 PM
    FB at $40.30 or so. happy medium achieved for now
  • truckfan 5/18/2012 4:23:47 PM
    hello facebook computer.
  • lawrence.dignan 5/18/2012 4:24:57 PM
    That's what's funny about the mobile OS. We have three good ones---Windows Phone, WebOS and RIM's QNX---and no traction with any of them. FB or Amazon could swoop in pretty easily.
  • Robert Santellan 5/18/2012 4:26:05 PM
    @Roger Cheng Not sure if a Facebook Mobile OS is really a good idea. Remember the "Facebook Phone"? You know...the android phone with a "Facebook Button"? Not exactly a hot seller last time I checked. So why would a full-fledged OS do any better? Just sayin'...
  • charles.cooper 5/18/2012 4:26:16 PM
    @Roger Cheng: Before they go there, FB needs to do something about making nice with Madison Avenue. The 'Mad Man' types complain that their counterparts at Facebook still haven't figured out how to work with them on big creative projects. They want to throw money Facebook-s way - but FB keeps missing opportunities. Maybe it's a sign of growing pains, a la' Netscape back in the day - a company that was growing too fast for its own good and struggled to keep up with its own success.
  • Roger Cheng 5/18/2012 4:26:46 PM
    @Robert Santellan It has a better chance than those phones, which was an experiment largely pushed by HTC. Facebook throwing its own weight behind a phone? I'd say it would do better than those crappy devices.
  • charles.cooper 5/18/2012 4:27:26 PM
    Last look: Facebook now heading again toward $41. That's helped qualm the sky-is-falling panic talk out there. At least for now.
  • lawrence.dignan 5/18/2012 4:29:29 PM
    FB shares rebounding nicely. Could be those retail orders being unclogged
  • lawrence.dignan 5/18/2012 4:29:46 PM
    $41.45
  • Iain Lennox 5/18/2012 4:29:56 PM
    In a world dominated by iOS and android it would be a very hard sell to consumers re FB branded devices.
  • Robert Santellan 5/18/2012 4:30:00 PM
    @Roger Cheng Good point. I personally don't see the point in a Facebook Mobile OS, but I also questioned AAndroid at first, and look where that is now.
  • Rafe 5/18/2012 4:34:03 PM
    We have a live video talkshow on the Facebook IPO right now: www.cnet.com Guests Jill Schlesinger, Tom Merritt, Paul Sloan, Andy Rachleff
  • charles.cooper 5/18/2012 4:34:40 PM
    Reporter's Roundable getting underway right now talking about the IPO. Jill Schlesinger from CBS Moneywatch.com, Andy Rachleff from Benchmark Capital, Tom Merritt of Tech News Today and our own Paul Sloan
    www.cnet.com
  • John Brett 5/18/2012 4:35:39 PM
    Zynga (ZNGA) sales have reopened..halted for an hour due to volatility circuit breaker.
  • charles.cooper 5/18/2012 4:37:00 PM
    Good take on today's news from
    Alain Sherter Facebook IPO: More whimper than bang www.cbsnews.com
  • @mikojava 5/18/2012 4:41:39 PM
    Android was good timing though
  • Roger Cheng 5/18/2012 4:42:27 PM
    @@mikojava Android benefited from good timing and the need by carriers for an alternative to the iPhone. Windows Phone or a FB OS could benefit from the carrier need for a third alternative out in the market.
  • Robert Santellan 5/18/2012 4:42:47 PM
    $41 is a nice amount shortly after open. Still, it is not quite what we all expected after all the hype. There was so much hype that you would think it would have peaked around $50 by now. LOL It just goes to show you that hype means nothing in the stock market.
  • jim.kerstetter 5/18/2012 4:42:53 PM
    Good advice to Facebook employees from Matt Cutts, an early Google employee... twitter.com
  • charles.cooper 5/18/2012 4:43:36 PM
    Both Dow and Nasdaq back in the green.
  • charles.cooper 5/18/2012 4:46:49 PM
    Other social media companies not faring well today: Yelp, Pandora, Linked in Groupon still in the red.
  • Roger Cheng 5/18/2012 4:47:15 PM
    Interesting story on TechCrunch regarding how Facebook engineers hacked the Nasdaq button to automatically post a status update when Zuck hit it. techcrunch.com
  • jim.kerstetter 5/18/2012 4:48:21 PM
    Interesting that Zynga, a company associated so closely with Facebook, is faring so poorly today. Could be truth to the notion that some investors took money out of other social investments and put them into Facebook.
  • Truckdrvr 5/18/2012 4:49:13 PM
    Just an interesting note in that "those suits" that everyone thought were unnecessary are the very ones that jumped in and pumped the stock up when it hit the offering price. Perhaps more necessary than many give them credit for.
  • Roger Cheng 5/18/2012 4:50:00 PM
    The bankers certainly earned their keep today. But I'm sure a lot of that was to avoid embarrassment on their own part. Nobody wants to be the one that blew one the largest IPOs in history.
  • jim.kerstetter 5/18/2012 4:50:39 PM
    @truckdrvr. Touche. Silicon Valley and Wall Street still need each other after all, even if they disagree on how you should dress for a business meeting.
  • jim.kerstetter 5/18/2012 4:53:43 PM
    McNamee is saying the next big thing has already started. The "hypernet" he calls it. OK, I'll bite. The point he's making is that that app model is taking people away from a Web site-centric business. That's interesting. Apple would certainly like that.
  • jim.kerstetter 5/18/2012 4:54:18 PM
    Chris Anderson wrote a cover story for "Wired" about this a good two years ago. Looks like he was ahead of the pack on that one.
  • Roger Cheng 5/18/2012 4:54:19 PM
    We've been focused so intensely on what this all means for Facebook, that we've ignored the impact that it will have on other companies. For instance, Facebook's rise could actually hurt the wireless carriers. As a form of communication, FB has rapidly replaced traditional voice and text messaging.
  • Roger Cheng 5/18/2012 4:54:42 PM
    That's bad news for wireless carriers who still rely on those businesses for a bulk of their profits.
  • jim.kerstetter 5/18/2012 4:55:03 PM
    How much of their profits?
  • Roger Cheng 5/18/2012 4:56:22 PM
    @jim.kerstetter They don't break it out exactly, but the margins on their voice and text messaging business are far higher than on data, which continues to grow and requires capital for infrastructure investments.
  • jim.kerstetter 5/18/2012 4:56:43 PM
    Does Facebook Connect make it more adaptable to a mobile/app future than Google, as McNamee argues?
  • Roger Cheng 5/18/2012 4:56:58 PM
    The problem is, Facebook, like every other non-traditional mobile player, relies solely on the data connection.
  • jim.kerstetter 5/18/2012 4:57:12 PM
    Wow, he's gushing. He says Zuckerberg has a deeper emotional maturity than Jobs or Gates at his age.
  • Roger Cheng 5/18/2012 4:57:25 PM
    Facebook is driving the change in communications patterns from voice and text message to data-centric messaging services.
  • jim.kerstetter 5/18/2012 4:57:52 PM
    So how does a carrier respond to that?
  • charles.cooper 5/18/2012 5:02:26 PM
    I don't want to get fixated about this - well, only a little - but FB is now well above $41 and climbing. Happily, I don't have to cover this as a beat but the bi-polar reactions among the chattering heads is something to behold.
  • jim.kerstetter 5/18/2012 5:03:43 PM
    The earth appears to have returned to its axis. And Nasdaq is still taking a beating. Trades placed at 9:30 still haven't been confirmed? That's not good.
  • charles.cooper 5/18/2012 5:03:53 PM
    @jim.kerstetter: Roger is smoking his own blend. Jobs? Maybe. But Gates? Fuggedaboutit. And it doesn't matter a whit whether Bill G was less mature; even back then he was a brilliant and cutthroat business dude. I mean, c'mon, how much can we mythologize Zuck.
  • jim.kerstetter 5/18/2012 5:05:00 PM
    It's a bit much. But then he's just made quite a bit of money for Roger. I'd be gushing, too.
  • Roger Cheng 5/18/2012 5:05:47 PM
    Ok everyone, we're wrapping this thing up. Thanks all for joining us.
  • lawrence.dignan 5/18/2012 5:05:50 PM
    Should Facebook buy Zynga? Why not. news.cnet.com
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