Facebook announced on Wednesday that it would go for public trading for making $5 billion initially. However, analysts expected that initially the total valuation of Facebook would be in between $85million to $100 billion.
The decision was immediately followed by comments from overwhelming number of its users Jeff Pantridge, a user said as “$5 billion IPO for Facebook? What the hell I am doing on Facebook? I am going to make a Jeffbook”.
Another user Michael John Chaves considered about the creation of jobs in the technology industry by Facebook. Adam Saunders expected that an overwhelming number of investors would come forward to invest in Facebook.
Mark Glaser told that Facebook would be confronting the same issues related to scrutiny after this IPO. Larry Scudder also told that as it was going for IPO, what difficulties would be there in going the same way of Myspace.
Myspace was paid $580 million by News Corp. This was referred to as over payment. This amount was very when compared to what earned by Facebook during last year, almost by hundreds of millions. It is also not expected that Facebook would be sold off just for $35 million, the way Myspace was during last year.
$1 billion profits were bagged by Facebook on $3.7 billion sales done to in just one year. As claimed by the website, it has above 845 million daily users. May be basing on this declaration of the website, Philip Pumbreen said that the website should distribute its wealth to all users.
He even asked all users to approach Mark Zuckerbers, the CEO with the same proposal. He asked if there is anybody else like him who believes that loyal and faithful users of Facebook deserve at least one share.