Facebook goes public (live blog)

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

  • jim.kerstetter 5/18/2012 2:03:07 PM
    Interesting Pivotal analysis. So basically they're assuming Facebook will turn into the second coming of Ticketmaster?
  • lawrence.dignan 5/18/2012 2:03:09 PM
    How productive was FB's hackathon last night? I'd argue much less than the previous ones.
  • truckfan 5/18/2012 2:03:11 PM
    i want a giant video screen that displays numbers all day.
  • charles.cooper 5/18/2012 2:03:15 PM
    It'll probably take another hour before we get the first trade. If CNBC's producers are looking for ideas how to fill the air, I'd personally love to see Jim Cramer model a few executive hoodies on camera.
  • Sam Ulrich 5/18/2012 2:03:20 PM
    @Roger Cheng I think one of the biggest problems with tech bubbles is really the market definitions. Tech companies defy the normal market definitions because they have the control of a monopoly with the start up costs of a perfect competition
  • jon.skillings 5/18/2012 2:04:05 PM

    Think there's anyone actually working at Facebook HQ this morning? (Credit: Francis Luu / Facebook)

  • charles.cooper 5/18/2012 2:04:20 PM
    @larrydignan: Ditto to that, kimosabee. Guaranteed they weren't drinking Jamba Juice.
  • jim.kerstetter 5/18/2012 2:05:56 PM
    Is there a more influential #2 at a company today than Sheryl Sandberg? I don't think Facebook gets to this point without her.
  • charles.cooper 5/18/2012 2:06:50 PM
    Talk about raining on the parade: Facebook's getting sued for - get this - $15 BILLION DOLLARS in a class action lawsuit over user tracking www.bloomberg.com
  • Roger Cheng 5/18/2012 2:07:07 PM
    @jim Agreed. She's the adult supervisor on the leadership team.
  • charles.cooper 5/18/2012 2:07:25 PM
    @jim.kerstetter: If only Al Haig were still around.
  • Roger Cheng 5/18/2012 2:07:57 PM
    I remember meeting Zuckerberg many years ago at the World Economic Forum in Davos, right after the whole Beacon announcement blew up. He was a different person back then...more a nervous kid than CEO.
  • Roger Cheng 5/18/2012 2:08:09 PM
    He's certainly grown up.
  • jim.kerstetter 5/18/2012 2:08:43 PM
    @roger, is that your way of noting that you've been to Davos?
  • jim.kerstetter 5/18/2012 2:09:39 PM
    User tracking is going to be a bugaboo for Facebook for years, as it will be for Google or anyone else making money from targeting ads.
  • Paul Sloan 5/18/2012 2:09:46 PM
    Zuck has more guidance than seems apparent -- from Marc Andreessen, to Don Graham and more.
  • jim.kerstetter 5/18/2012 2:10:22 PM
    And there's Paul Sloan! Paul, please introduce yourself.
  • Paul Sloan 5/18/2012 2:10:38 PM
    Morning all!
  • Charlie B 5/18/2012 2:10:46 PM
    Spend it to make it. These ad companies have put FB on a pedestal. Good job guys!
  • jim.kerstetter 5/18/2012 2:13:13 PM
    CNBC: Retail demand for Facebook shares is the highest ever seen for a new issue. In other words, lots of folks want in on this despite the high cost.
  • dan.farber 5/18/2012 2:15:47 PM
    What are the IPO prospects for Twitter...which will have around 200 million users this summer?
  • jim.kerstetter 5/18/2012 2:15:48 PM
    For those of you just joining us on the west coast, we're waiting for Facebook shares to start trading at 11 am ET. Zuckerberg has already rung the Nasdaq bell from Facebook's own hacker square in Menlo Park, and the veins are starting to bulge in the forehead of CNBC's Jim Cramer.
  • Paul Sloan 5/18/2012 2:16:08 PM
    Happy to join in. I'm an exec editor here at CNET News and have been handling a lot of our Facebook coverage. Rumor has it I was on CBS' early show this morning talking all things FB, and have been a regular on CNBC of late. And the BBC, which is the most fun because, as the host asked me, "How can they make money from a site where the main goal is to post pictures of you and your mates getting bloody drunk at the pub?"
  • Paul Sloan 5/18/2012 2:16:39 PM
    It was a fair question...
  • Roger Cheng 5/18/2012 2:16:40 PM
    There's been this interesting mix on Wall Street with some investors deathly afraid of the valuation but others still clamoring for more shares. The closing price should be a good indicator of which side wins out (for the near term).
  • jim.kerstetter 5/18/2012 2:17:06 PM
    Photos of you and your mates getting bloody drunk seems like a highly monetizable business.
  • Roger Cheng 5/18/2012 2:17:38 PM
    Perhaps as a form of blackmail, yes.
  • truckfan 5/18/2012 2:17:45 PM
    how long till facebook makes their own computer.
  • Paul Sloan 5/18/2012 2:17:45 PM
    And, for further cred, I covered all the '90s mania for CNN and U.S. News , which back then was a decent magazine.
  • Roger Cheng 5/18/2012 2:18:28 PM
    @truckfan I would say never. But there are always the lingering rumors about the Facebook phone. That's a lot more likely, given FB's interest in the mobile area.
  • jim.kerstetter 5/18/2012 2:18:30 PM
    @dan, that's a good question. Twitter certainly has a huge audience, and lots of stickiness in media organizations like ours. What's not as clear to me is how they make a lot of money from it without aggravating users.
  • charles.cooper 5/18/2012 2:19:05 PM
    CNBC is interviewing Michael Pachter of Wedbush Securities. He's the guy who got so bent out of shape over Zuck wearing a hoodie to investor meetings.
  • Paul Sloan 5/18/2012 2:19:09 PM
    @JIM indeed. I suggested -- what would happen if you and your mates were on a different website -- not Facebook -- and suddenly found yourself followed by ads for Guinness? That good happen and therein lies a huge opportunity for Facebook, creating a social-based ad network outside of Facebook.
  • Paul Sloan 5/18/2012 2:19:29 PM
    @cooper Man, i wish there was a Hoodie Index.
  • Roger Cheng 5/18/2012 2:19:58 PM
    @jim.kerstetter @dan The other question about Twitter is exactly how many people use the service actively. A majority of people on Twitter sit back and watch a minority post a bulk of the total tweets.
  • Roger Cheng 5/18/2012 2:20:47 PM
    @charles.cooper Pachter needs a chill pill. The institution of Wall Street? Please. Wall Street hasn't exactly done a lot to warrant respect lately, have they?
  • lawrence.dignan 5/18/2012 2:20:50 PM
    Wall Street's market makers must be salivating over all of those market orders they can scalp.
  • jim.kerstetter 5/18/2012 2:22:33 PM
    My rant on the hoodie hullabaloo... news.cnet.com
  • charles.cooper 5/18/2012 2:23:08 PM
    We were talking about Greece & Spain earlier. Jill Schlesinger nicely wraps a bow tie around this - cautioning everyone to remember the "real story that could impact your financial life." www.cbsnews.com
  • jon.skillings 5/18/2012 2:25:36 PM

    Might we see a run on pin-striped hoodies from Facebookers flush with IPO riches? (Credit: Betabrand)

  • jim.kerstetter 5/18/2012 2:25:58 PM
    Uh oh. CNBC is rolling out the food B-roll. Interesting tidbit: Facebook employees can take a conference call in a treadmill. Who knew?
  • Roger Cheng 5/18/2012 2:26:01 PM
    Now that Facebook is flush with cash, it’ll be interesting to see how it plans to spend it. More acquisitions like Instagram? Awesome food like Google?
  • charles.cooper 5/18/2012 2:26:28 PM

    From Mark Zuckerberg's Facebook page today: www.facebook.com

  • jim.kerstetter 5/18/2012 2:27:00 PM
    A Silicon Valley executive once said to me: Do you know why we give people free food, laundry, gyms, and daycare? So employees never have an excuse to go home.
  • charles.cooper 5/18/2012 2:28:04 PM
    @rRoger Cheng: Tell you what: The food at the Facebook cafeteria is already pretty good.
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