Thursday was the first day that major investors in Facebook could sell their shares — and one company did just that. Accel Partners, one of the earliest investors in the social network, reportedly sold 50 million shares of Facebook (total worth: roughly $1 billion). Others could follow suit soon. Facebook’s stock, which closed Wednesday at $21.20 per share, fell to $19.87 when the closing bell rang Thursday.
In an effort to gain more advertising money, Facebook has been testing ways to place more ads on pages. But the company also is doing what it can to keep its biggest clients happy, especially as Facebook’s finances come into light with Thursday’s earnings call.
Not long after an Australian bank announced that it planned to offer the ability to send money and pay bills through Facebook, American financial giant Citibank posted an interesting message to its Facebook page, asking fans if they would bank through Facebook, if given the chance.
It’s no secret that Facebook is trying to become a destination site, where you do pretty much everything possible online through the social network. According to CNN/Fortune, you might soon be able to do your banking on Facebook, too.
Facebook shares rose about nine percent in value in the last auction on SharesPost, to close at $33 apiece on Friday, compared to a previous $30. The stock has recaptured some of the value lost since peaking at $87.5 billion in July.
Facebook application developer SNAP Interactive posted its 10th consecutive quarter of revenue growth, although the third quarter of 2011 also brought a net loss to the company.
Malaysian Tourism Minister Datuk Seri Dr Ng Yen Yen is facing a revolt — on Facebook, and over Facebook.
How much money is your competition paying for its presence on Facebook?
Facebook has directly and indirectly made more than half a dozen people rich enough to land on the 2011 Forbes ranking of the world’s 1,210 billionaires.
Facebook stock closed at a price of $33 apiece in the latest auction on SharesPost, which sold 80,000 shares in an oversubscribed round of bidding. Assuming the social network still has 2.5 billion shares outstanding, the company now carries a value of $82.5 billion, the highest yet.