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POLL: Is Facebook Really Worth All Those Billions?

It became a publicly-traded company this week and is making billions for its shareholders.

From its humble beginnings as an idea in a Harvard dorm room, to a social media site with an estimated 900 million users worldwide - Facebook has become a huge part of our popular culture.

Privately held since 2004, Facebook became a publicly-traded company this week. That means all of its shares will be listed on the NASDAQ stock exchange and sold to the public, though some investors criticized that it was hard to get their hands on the stock.

Once trading began, Facebook sold 421 million shares at $38 each and raised an estimated $16 billion in one day, setting records for valuation and volume of first-day trading. Friday's trading set a record for the number of shares sold, 567 million.The company's total valuation is now estimated at $104 billion.

Founder Mark Zuckerberg's wealth is estimated at $19 billion after the trading and co-founder Eduardo Saverin gave up his US citizenship and became a citizen of Singapore, a move that will reportedly save him a 15 percent tax on his shares.

After all of this hullabaloo, is Facebook really worth that much money? Some social media critics say it's popularity can't last forever, others say the stock sale didn't do as much as they'd expected to boost the value of social media sites. What do you think? Is Facebook that valuable? Or could it become tomorrow's Myspace?

Research credited to Reuters.com, San Jose Mercury News, yahoo.com.


Enough already May 19, 2012 at 12:20 PM
It is obvious that it is worth $38 a share because if were not, investors would not have paid $38 for it.
Robert Sagendorf May 19, 2012 at 01:30 PM
Facebook is definetely no GOOGLE. We will watch and see what the stock does. It could be a fad until something else comes up.
John Wilk May 19, 2012 at 06:41 PM
Maybe worth 38 cents ...... Certainly not $38. investor
Richard A. Dickon May 19, 2012 at 08:47 PM
I am much more concerned with using FB for free than trying to make a quick dollar, but I hope it stays free for as long as possible.
Rick Cahill May 21, 2012 at 02:44 AM
I am a Facebook user and I have asked myself many times if this is something that will last. It is certainly a new way to stay in touch with friends and family. It is a way to pass on information and opinions. It is a way to root for a team or a cause. There is nothing quite like in on the internet right now. What amazes me is that if they decided to, and I have not inside knowledge to suggest that they would, charge $1.00 per year for a Facebook account; that would generate $900 million in revenue. That's is a 25% increase in the most recent $3.7 billion on revenues. What I wonder is would people pay $1.00 a year for an account. Seems people pay more for other types of communicative accounts. I'm just sayin'.
Joanne Smythe May 21, 2012 at 05:05 AM
Actually, that $38 price was propped up by underwriters.
JM May 21, 2012 at 01:53 PM
$33.17 now.
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