User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


23° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Facebook Goes Public

February 3, 2012, 7:00 AM by Kellee Azar

Facebook Goes Public
SIOUX FALLS, SD - Facebook is going public and the company is doing it in a big way; filing the largest IPO ever at $5 billion. But this big step is leaving many with questions about the social media giant.

"It could change how it works, and if people have to pay for it, and then, well of course, the number of people using it and well how people connect," Facebook user Melissa Petrie said.

Facebook, however, is not making the move to make users unsure, but to make Facebook better.

"They want to improve their company.  They want to make their company better and more accessible, more appealing to the general public.  They need money to do that." investment advisor Neil Graff said.

And money is what they will get. It's said that if Facebook goes public, a group of their 3,000 employees will become instant millionaires.

"If they were there back at the inception of Facebook in 2006 they will be undoubtedly have been receiving company stock.  Because of this, there will be hundreds of millionaires," Graff said.

Even though Facebook is already a profitable business, the IPO will just act as fuel for the company to keep going.

"They need money to fund its growth to be the biggest and best company.  The only way to do that is have more money and funding resources," Graff said.

Growing into an even larger company is actually something that will only help them more.

"Being so well known will help them because more people will go out to find the shares," Graff said.

Facebook going public not only leaves questions about the changes but also the question of who will have access to that stock.

"The initial shares that are issued will only go to the clients of the underwriting company.  So there is a probably a very low probability that any people in our general area will get those shares," Graff said.

After going to the underwriting company, the stocks will then be available to the general public on the New York Stock Exchange.

Those underwriting companies are Goldman Sachs, JP Morgan Chase and Morgan Stanley. How much each share will cost is still up in the air at this point.

This article has been revised to reflect the following correction:
The value of the IPO was corrected.

Previous Story

Next Story


Comments





Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Website Ranks The 25 Best Jobs For 2015

1/28/2015 5:12 AM

Physician assistants topped the list, which has an average base salary of $111,376.

Full Story
Rock Stars To Celebrate Pawn Shop Ground Breaking

1/23/2015 11:15 AM

Bret Michaels and Lita Ford will perform at the District on Wednesday, Jan. 28 to celebrate the ground breaking of Badlands Pawn.

Full Story
Long John Silver's Building To Become Taco Shop

1/23/2015 4:00 PM

The former Long John Silver's on Minnesota Avenue is going to become a Mexican fast food restaurant.  

Full Story
Refinery Issues Lead To Higher SD Gas Prices

1/27/2015 11:10 AM

For the first time in months, South Dakota's average gas price rose last week.  According to a AAA report, the increase is due to a series of...

Full Story
Proposed Egg Farm Drawing Complaints In Turner County

1/27/2015 7:30 AM

A Sioux Falls-based company hopes to more than double the number of egg-laying hens in South Dakota by opening a large chicken operation near Parker.

Full Story


Events