Last Friday marked one of the biggest moments in this generation’s tech investments: Facebook IPO.
People will argue whether it’s a bubble or not; only time will tell. But what is a fact, is that Facebook – so far – is one of the biggest success stories of our times.
– The third biggest IPO ever (after VISA and General Motors)
– The largest tech IPO ever
– The largest IPO ever by an 8 year old company
Add to that, Facebook has a very interesting business model in the making as ”Facebook is now a platform for everything”; and the case can be made for Facebook’s P/E ratio and beyond.
Anyway, Friday’s numbers are so amazing, they are worth really looking at. NY Times’ Dealbook has done a great visualization on them. See the full version here.
A glimpse in history (from Businessweek) should serve as inspiration for future entreprenurs.
Palo Alto, Calif.
In the spring of 2004, Zuckerberg didn’t know he was hatching a hot social-networking startup. He just thought Harvard should have an online directory of students. His first attempt landed him in hot water with the administration — he ranked all students’ ID photos based on attractiveness. His second try made him a Silicon Valley wheeler and dealer.
Selling banner ads to make money, the Facebook connects students with one another. Originally, Zuckerberg fretted over the $85 a month it cost to run. Today, Facebook has raised more than $13 million from Silicon Valley names like PayPal founder Peter Thiel and Accel Partners.
Zuckerberg needn’t worry about getting brushed aside in favor of seasoned management — the gutsy Harvard dropout negotiated a contract with investors that left him in control as long as he wants.
“Do what you think is right, not what other people tell you is right. People have strong opinions about the way to do stuff. It’s really good to listen and learn from the world, but when you’re making something, it’s coming from you.”
The team. Year one.