Facebook has become the public network – no longer a private company, the social network now has shareholders and a ticker symbol (FB) to go with the 900m users of its service.
Its initial public offering was priced at $38 on - the top end of its range, giving the Silicon Valley company a valuation of $104bn. But after opening at $42.05, Facebook’s underwriters had to fight to keep it above its float price, the shares closing at just $38.23, up 0.6 per cent.
For a Facebook “Timeline” of its opening day – from before the opening-bell ceremony at its Menlo Park headquarters through a frantic trading day – read Tim Bradshaw and Chris Nuttall’s live blog after the jump. Read more