It’s time for Facebook put up a big grin today, after all the stocks of the social network is looking up constantly. Initial reports said that Mark Zuckerberg, the CEO of Facebook, was against making the company go public last year. But the rising stocks of the internet’s famous social network changed his mind!
IPO makes Facebook better
The plan of offering the shares or an IPO, initial public offering, of the company shares to the public, has made the Facebook Inc bounce back a much stronger company.
Late Wednesday at a conference Mark Zuckerberg gave an onstage interview put his past fears to rest saying, "we run our company a lot better now. In retrospect, I was too afraid of going public. I have been very outspoken about staying private as long as possible, but I don't think it's that necessary to do that."
Facebook had been conjured in Marc Zuckerberg’s dorm room at Harvard University. The co-founder feared that the IPO would result in the staff not getting time to come out with new services and products and they would be focusing their attention on the stock share sales.
Stock sales climb up
This is the first time that the stocks of Facebook gathered the highest price. Remember how in the beginning the IPO decision had been looked down upon? Zuckerberg felt that this step might weaken the control he had on the company. But it’s time for the stance of the investors to change, they now believe in Zuckerberg’s foresight.
Facebook's stocks closed at about $45.04, and showed a gain of about $1.44, that was slightly more than the figures collected in May 2012.
The investors had shelled out about $ 38 per share and the current price is only about 18 per cent above the IPO share price.
But the data highlights that Facebook has slowly regained its climb after it showed $ 17.55 in September 2012, reassuring the 1.1 billion monthly users that slower growth would soon be picking up. The advertising on the mobiles is helping it clamber up to a thriving mobile business.
Facebook and mobiles
Last year Zuckerberg had openly declared that he would show exorbitant business on mobile devices and this was evident when the sales figures showed that $656 million, or 41% of the digital advertising revenue was a result of the computer tablets and the mobile phones.
Ever since this was highlighted in the stocks of Facebook that seemed to have rushed forward by almost 66%. The Facebook stock had risen to $ 27 billion from $ 16 billion in a period of just about 2 months.
Zuckerberg now calls the IPO a 'valuable process' that pushed him on to newer and better ways to run his company and he now peacefully states, "Sometimes it might take the market a little while to catch up and see the results of what you're doing."
Talking about the sharing of information with NSA due to the threat of terrorism, Zuckerberg reassured the Facebook users by saying, “I think it's our job and my job to protect everyone who uses Facebook and all the information that they share with us."
He further stated, "It's our government's job to protect all of us, and also to protect our freedom and economy and companies. I think they did a bad job of balancing those things here. Frankly, I think the government blew it.''