In The News 02-03-2012
Your Weekly Update In The World Of Technology
Facebook Going Public
After numerous rumors swirled around the Internet and financial circles, Facebook finally went public with their IPO (Initial Public Offering) on Wednesday. The goal was to raise as much as $5 billion in the initial offering. This would make it the biggest IPO of any internet-based company, beating out Google’s $1.9 billion debut back in 2004.
The real question that everyone wants to know, however, is how much Facebook is actually worth? Many believe that the social network site is worth somewhere in the range of $75 to $100 billion. This is an estimate of Facebook’s worth once shares are listed a few months from now. Does this mean that you can buy shares and cash in then? Unfortunately not, as the IPO will include Facebook staff and large investors at first. Over time, if investors feel comfortable, you’ll see shares open up to the typical Facebook user.
For now, you can be comfortable with the fact that Facebook will have to answer to the public after its IPO, which is big news considering Facebook’s recent privacy concerns. That and the fact that Bono, yes that Bono, will own 1.5% of your beloved social network.
Microsoft Takes Aim At Google (And Its Privacy Concerns)
Microsoft is taking a stance and running a series of ads in major newspapers in response to Google’s policy changes. The goal? Forget Google and start using Microsoft services instead. The ad includes large text at the top stating “Putting people first.” The purpose is to convince people that their personal information isn’t exactly safe with Google anymore, and that Microsoft cares more about its users. The ads will be ran in the Wall Street Journal, the New York Times, and USA Today.