Facebook went public at $38 per share. The IPO sold about 1/6 of the company to the public, raising $16 billion; it was the third largest IPO in U.S. history. Zuckerberg retains a 22% ownership share in Facebook and will own 57% of the voting shares.
Facebook did brilliantly, selling a fraction of the company for much more than it was apparently worth (given that the shares are trading for less than the IPO price).
“They picked a bad banker and an awful exchange,” Barry Ritholtz said. Ritholtz is a widely followed financial blogger and the chief market strategist at Fusion IQ.
I’m guessing that Ritholtz is mad that he lost money. Ahhh, Bite Me.