News Summary: Facebook's $16B IPO among largest
THE IPO: Facebook’s initial public offering of stock is shaping up as one of the largest ever. The world’s definitive online social network raised $16 billion after pricing its stock at $38 per share on Thursday.
IN THE BIG LEAGUES: The IPO values Facebook around $104 billion, slightly ahead of Amazon.com and other well-known companies such as the Walt Disney Co. and McDonald's.
WHAT'S NEXT: The company is holding an overnight ‘‘hackathon’’ Thursday, where engineers stay up writing programming code to come up with new features for the site. On Friday morning, Zuckerberg will ring the Nasdaq opening bell from Facebook’s headquarters and Facebook’s stock will begin trading.