Facebook Inc. Chief Executive Mark Zuckerberg has sold 30.2 million shares and director Peter Thiel has sold 16.8 million shares of the social-networking company, according to securities filings published late Tuesday.
The sales confirm plans detailed in a prospectus before Friday’s $16 billion IPO. Zuckerberg sold 30.2 million shares at a price of $37.58 for gross proceeds of $1.13 billion; Thiel sold 16.8 million shares for gross proceeds of $633 million. Facebook insiders had told prospective shareholders of their plans in an S-1 filing last week.
facebook hypocritical? facebook double standards? nah!
(Reuters) – Facebook shares sank in the first day of trading without the full support of the company’s underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks.Facebook’s debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $38 offering price on the open market.
Even so, one source said Morgan Stanley’s own brokers were at one point “ranting and raving” about glitches that left unclear what trades had actually been executed.
Without a fresh round of defense, Facebook shares fell $3.79 to $34.34 in afternoon trading. That represented a decline of 10 percent from Friday’s close and 24 percent from Friday’s intra-day high of $45 a share.
“At the moment it’s not living up to the hype,” said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago, adding that some people may have decided to hang back and buy the stock on the decline.
“Look at the valuation on it. It might have said ‘buy’ to a few people, but boy it was awfully rich,” he said.
The drop in Facebook’s share price wiped some $10 billion off of the company’s market capitalization — it became a sufficiently interesting pop culture story that even gossip website TMZ did a brief item Monday morning.(MORE)
Buy facebook shares on Friday. It’s a no brainer
In the US, Holocaust denial is recognised as a form of hate. Because incitement to hatred is protected under the First Amendment, Congress cannot pass laws to prevent it. Facebook, on the other hand can and does prohibit the use of their service to promote hate. As a private company it has that right. By refusing to accept that Holocaust denial is a form of hate, Facebook lends legitimacy to the deniers and strikes against a human rights consensus.Facebook, which bans pictures of breast feeding mothers, does not need to make the hurdles so high when it comes to the hatred of Jews.
…not to mention I’d like my facebook graffiti back from the facebook profiles that were deleted because facebook decided to censor my artwork when feminists complained about the nudity in my art. Yeah… I live by Vassar college.
Ask Facebook to remove following ‘Hate Israel’ page, which is a clear violation of FB ‘terms of service’January 3, 2012
The demonization of Israel through the social media is a thriving industry. Both on Twitter and Facebook, there are no shortage of users who spend their days spreading hate and vitriol (often including implicit, and sometimes explicit, calls for violence against Israelis).
Here’s one Facebook page advancing the cause of anti-Zionism, and expressions of hate towards Israelis, which hasn’t come close to reaching its goal of 100 million supporters, but has still garnered nearly 30,000 “Likes”.
The page includes this video.
As if there was any doubt as to the goal of these “activists”, those commenting on the wall include NoIsrael# next to their name.
Here’s a subtle message conveyed by a subscriber to the page:
I reported the page to Facebook, as clearly violating their terms of service, particularly this passage:
You will not post content that: is hateful, threatening, or incites violence
So, far the page has still not been removed, so please consider reporting it, by going to the left hand side of the site, and clicking the “Report Page” link.
Finally, here’s a screen capture from one scene in the video above.
(smh.com.au) Israeli Rotem Guez caught Facebook’s ire by changing his name to Mark Zuckerberg. Photo: Aviv Shiloh & Roy Tal
The new Zuckerberg, born Rotem Guez, legally changed his name December 7. Zuckerberg II’s website, MarkZuckerbergOfficial.com, states that he first filed a lawsuit against Facebook in January, after the social network refused to give him access to his profile, which it had shut down.
Zuckerberg (all further mentions refer to the Israeli entrepreneur) co-founded Like Store, a social marketing company, which sells companies Likes for their brand pages. The site states (translated), “Are you sad no one’s visiting your Facebook Page? We have a solution! Need 1,000 Likes? We’ll get them for you. Need 5,000 Likes? We’ll get them for you. Need 10,000 Likes? We’ll get them for you.”
In September, Facebook’s law firm Perkins Coie threatened to sue against Zuckerberg, claiming the Like Store violated the social network’s Terms of Service, by selling brands fans. The threat instructed Zuckerberg to shut his company and never return to the social network for any reason. (MORE)
The ridiculous part is that facebook will not let people profit off of a fan page. This guy rocks!
I suspected as much from all social networks and online sites.