News

Facebook goes live on Nasdaq

After months of speculation, a two-week long roadshow, and hours of pent-up waiting, it's finally happened. Facebook has officially started trading on the Nasdaq stock exchange. The company's share price opened at US42, higher than the US$38 it was offering, before leveling back down to US$40. Earlier today CEO and founder Mark Zuckerberg rang the bell that opened trading, officially signalling Facebook's first day as a publicly trading company. It took a few hours, however for the company to ...

News

Twitter reactions to Facebook IPO mixed

Unless you’ve been hiding under a rock, or just woke up from a coma you probably know that Facebook debuts on the stock market today. As with any big event, the people of Twitter (which, by the way, was last seen doing everything its power to avoid going public) had to have their say. There were, of course, jokes: Facebook IPO day joke:Why is Facebook going public?Because they couldn't figure out the privacy settings either. :P— Sritika Dhar (@Sritika) May ...

Mobile

Why ninety-nine cents is still too much for a cellphone call

Picture 126 South Africa is country with an incredibly high mobile penetration, but which has always suffered from excessively high voice call rates. This week it seemed like all that was changing. The country’s third operator CellC threw the first volley, announcing that call rates on prepaid packages would drop to 99c per minute. Vodacom, the country’s first and biggest operator, responded in kind, saying that it too would reduce its rates to 99c per minute. And the masses rejoiced. My question is simple: ...

Facebook

Cheat sheet: The Facebook IPO

Chances are, anyone in your office even remotely interested in tech or business is going to be talking about Facebook's IPO today. If you're feeling a little out in the cold, don't worry. We've got your back. Here's everything you need to know about the Facebook IPO in a nutshell. The social network’s initial public offering consists of 421 233 615 shares. Shares will start trading at US$38 apiece. Predict the closing price. There are two classes of Facebook stock. Class A stock ...

Facebook

Facebook’s IPO will only make Mark Zuckerberg stronger

Mark Zuckerberg Image courtesy of Facebook Facebook is not interested in reforming Wall Street with its IPO, as Google tried to do with its Dutch auction process and snubbing the big investment firms. So it shouldn't be surprising that Facebook isn't interested in adopting a more open company governance structure either. In fact, Facebook [$FB] has copied Google's [$GOOG] corporate structure as closely as it could, and even improved on it. The two-tier shares where insider's shares have 10 times the voting power is common to ...

News

Non Facebook IPO news: Woman divorces husband over status

While the press scrutinises every move surrounding Facebook’s IPO, it is worthwhile remembering that life goes on. Sometimes it goes on hilariously. According to the Deccan Chronicle, an Indian woman is divorcing her husband for failing to change his Facebook status from “single”. The man meanwhile says he was just too busy settling into matrimonial bliss and running his furniture repair business to change his status. The 28-year-old woman is am IT professional who says she decided to divorce her ...

General Tech

We can’t live without the internet, it can’t live without us

"We have a symbiotic relationship with the internet, we cannot live without it and I am pretty sure if it could think, the internet could not imagine existence without users," says Yasushi Okamura, Global client director at Oracle. Okamura, who was addressing the audience at the Korea Communications Conference, suggests that human beings have undergone a symbiosis with the internet that has enabled both parties to evolve greatly in the last 25+ years. "We have evolved and adapted the internet into ...

News

Mark Zuckerberg greeted by standing ovation at pre-IPO hackathon [PICS]

It’s finally here. Today is Facebook IPO day. You might think that Mark Zuckerberg would be kicking back in his hoodie and slippers. You’d be wrong. Instead, the Facebook CEO was on hand to launch the company’s 31st hackathon -- aimed at building brand new Facebook products. When Zuckerberg arrived at the marathon hacking session at Facebook HQ in Menlo Park California, he was greeted with a standing ovation. Facebook staffer Francis Luu posted these some great pictures of the ...

Future Trends

Digital innovators to star at 2012 Flux Trend Review

If you want to meaningfully participate in the world you, never mind change it, you need to know what forces are driving shaping it. Anyone who's still has doubts about how digital online technologies are changing the way we function as human beings need only look at the speaker list for this year's Flux Trends Review, set to take place on 7 June in Johannesburg. The annual event claims to cherry-pick "the best thought leaders to provide a 360-degree look ...

Facebook, News

Facebook confirms stock price ahead of much-hyped IPO

startup_office_facebook The wait for one of the most eagerly anticipated public debuts in tech history ends tomorrow. Anyone currently biting their nails in anticipation has to be content with the titbits of information coming through from the social network. The latest nugget to come through is that Facebook has confirmed what it will be pricing its stock at. When it enters the NASDAQ tomorrow, ordinary members of the public will be able to buy shares in the world's largest social network ...

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