Thursday, February 2, 2012

Facebook going public

Facebook goes public with an initial public offering of 5 billion dollars which is about 800 billion in naira equivalent.
Facebook’s I.P.O. marks another stage of the Internet’s evolution. It’s so valuable, because it’s not just about content, it’s about our connections’, said Charlene Yi, founder of the Altimeter Group, a technology consulting firm.

In 2004, ‘Computer prodigy’ Mark Zuckerberg founded Facebook (formerly known as TheFacebook) for Ivy League schools to keep the community intimate and in less than a year, the site registered its 100th user. It has in the last eight years grown into something much more bigger as the site now accommodates sales, advertising amongst other profitable entertainment-eqsue businesses.

Web information company Alexia ranks Facebook as number 2 on the list of top 500 hundred sites after search engine Google.

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