News

Facebook braces for IPO

Is May 18 the big day?

People seem to be anticipating the Facebook IPO with as much excitement as kids waiting for Santa Claus. According to the Wall Street Journal, they may not have long to wait. The newspaper said May 18 may be the big day.

Documents filed with the SEC indicate initial shares will cost $28 to $35 each. Wall Street Journal calculations estimate that CEO Mark Zuckerberg's shares will be worth between $14.9 billion and $18.7 billion. Analysts said the social networking company itself could be valued at $96 billion, setting a record for a web-based business that goes public.

Facebook representatives were not immediately available for comment.

Comments

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Posted by Apartment renter
a resident of Menlo Park: Menlo Oaks
on May 4, 2012 at 12:44 pm

Is it hoping too much that the Facebook employees will turn around and buy homes not only helping the housing market but causing rental rates to fall back to normal in the Menlo Park area? $2200+/month for a mediocre 2 BR apartment is insane! Greedy management companies who force out good tenants for temporary residents are penny wise and pound foolish.


 +   Like this comment
Posted by Hmmm
a resident of another community
on May 4, 2012 at 1:06 pm

No, it's not hoping too much! But don't hold your breath - Menlo's always been an expensive place to rent. I know FB employees who are renters & I'm sure they're poised to buy, if possible (I don't ask how well compensated they are). For some, it may mean owning a condo in San Mateo vs. a manse in Atherton, but it's still ownership (supposedly, not factoring the bank's role).

It'll be good for the overall area. Btw, I feel for you - as much crapola as you hear about EPA (much of it warranted), here at least tenants aren't considered expendable 3rd class citizens lacking in rights. Menlo has always had a mediocre rep re its treatment and view of tenants vs. landlords - & believe me - it's viewed as "vs.", not "both".


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