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Facebook Circling The Drain, Slides Down $10 Billion In Value

Filed under: Tech TalkBusiness BlitzFacebook

Facebook drops 10 b

This week, Facebook decided so say, "Hey, we're not going to offer up a forecast to investors!"

Smart move? Oh god, no!

That wasn't a very good move at all, because investors just wiped $10 billion off the value of the website.

The shares are now sitting at new low!

It was a 17% slide in shares, resulting in an IPO worth

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Mark Zuckerberg's Worth Drops BIG Time

Filed under: Business BlitzFacebook

Mark Zuckerbergs worth drops big time

Maybe taking Facebook public wasn't the best idea after all.

Since the initial public offering, the price of the company's stock has dropped dramatically. What started out as $38 a share is now just $27.24 (as of right now) and the company's worth has dropped by at least $25 billion!

Since Mark Zuckerberg's fortune is dependent on the stock's performance on the market, his worth has decreased by $5 billion. In fact, he's actually been knocked off of Bloomberg's list of top 40 billionaires worldwide.

As of May 18, the young entrepreneur was worth

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Ver$ace Going Public?!

donatella-versace-public.jpg

Soon, YOU TOO may be able to own a slice of the gilded, Italian fashion pie that is Versace!

According to reports, the fashion house's owners Donatella, Santo and Allegra Versace, are looking for investors to grow their biz, which means they could become a publicly traded company on the stock exchange.

Goldman Sachs is said to be helping Versace weigh their financial options, but CEO Gian Giacomo Ferraris says "no solution has yet been decided".

Hmm. It worked for Prada and Salvatore Ferragamo, so why not?

Would U buy Versace stock???

[Image via WENN.]

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Mark Zuckerberg SUED By Angry Investors

Filed under: Legal MattersFacebook

Mark Zuckerberg sued by angry investors

Facebook's stock has taken a dive since it's initial public offering and investors are pissed! Some are so pissed that they've filed a lawsuit against the social network, CEO Mark Zuckerberg, and the stock's underwriters at Morgan Stanley.

Three investors are accusing the defendants of withholding negative information about the IPO, as one lawyer working for the plaintiffs explains:

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Facebook Stock Starts Between $28 And $35 Per Share

Filed under: Business BlitzFacebook

Facebook stock price

Want to own a piece of Facebook?

When the company goes public on May 18th, one share will cost you somewhere between $28 and $35.

We don't see the social network going away anytime soon, so it might not be a bad investment. However, analysts are predicting that the price of stock will only increase as

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Facebook Goes Public On May 18!

Filed under: Business BlitzFacebook

Facebook goes public

It was only a matter of time, folks! Starting May 18, you can get your hands on some Facebook stock when the company finally goes public to become the largest IPO in internet history.

To celebrate raise more money from investors and prepare for the stock market launch, the social network is going on a nine day IPO roadshow beginning May 7. The tour will stop in New York City, San Francisco, Boston, Chicago, Baltimore and potentially Los Angeles to pitch to investors in hopes of raising up to $10 billion!

While CEO Mark Zuckerberg will make a few appearances along the way, COO Sheryl Sandberg and CFO David Ebersman will be the main stars of the show.

Are U going to buy yourself a piece of the internet's most popular website?

[Image via WENN.]

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Mark Zuckerberg Could Be Hit With $2 BILLION Tax Bill!

Filed under: Business BlitzFacebook

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TWO BILLION DOLLARS IN TAXES?!?!?! WTF?!

When Facebook goes public, Mark Zuckerberg will be a billionaire, hands down.

But due to the fact that stock options are heavily taxed, the government will come down on Zuckerberg HARD!

Accountants state that

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