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.


73° 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

 


View business

You may also like

Bear Shatters Glass Wall At Minnesota Zoo

7/6/2015 2:50 PM

A grizzly bear at the Minnesota Zoo repeatedly slammed a 50-pound rock into the glass wall of its enclosure, cracking the thick pane separating the be...

Full Story
Presidential Proposal Would Expand Overtime Pay

6/30/2015 7:08 AM

Obama is unveiling a proposal to require overtime pay for workers who earn up to $970 per week, up from the current $455 threshold.

Full Story
New Laws Bring Changes To Commercial Driver's Licenses

7/1/2015 6:52 AM

The new regulations raise the minimum age to apply for a commercial driver's license from 16 to 18.

Full Story
Splash Central Sees Success In Its Third Season

6/29/2015 6:15 PM

Pool fees are a hot topic in Sioux Falls for both the new indoor aquatic center and proposed changes at the outdoor pools.  Along with a possible...

Full Story | Watch
Don't Twist That Oreo: Cookie Gets Skinny, 'Sophisticated'

7/6/2015 10:06 AM

Oreos are getting a skinny new look, and its maker says the new cookie is a "sophisticated" snack for grown-ups that isn't meant to be t...

Full Story


Events