History has just been made. At around 9:30am EST today, the NASDAQ stock exchange welcomed their biggest and latest entry into the public market. It was quite a sight to behold, quite frankly…in just one quick move, founder & CEO Mark Zuckerberg did two things: usher in a change from Facebook to $FB and instantly make hundreds, if not thousands, of millionaires out of his colleagues (and himself!). So today, we welcome one of the biggest companies into the world and wish Mr. Zuckerberg congratulations.
So what’s next? Well the stock isn’t going to actually be traded until 11am EST, just less than two hours from now. But the hope is that after the hype and the initial rush wears off, Facebook will certainly get back to work and be more innovative with their technology and platform. In watching CNBC’s “Squawk on the Street” this morning, it seemed that the anchors and pundits were suggesting that Facebook was going to be a ad-supported platform and that’s how the would generate revenue. I suppose one might believe that and there’s no doubt that Facebook advertising is going to be a significant factor in their annual growth–although one might think the contrary in light of the move that General Motors played earlier this week. But Facebook is not going to simply be supported by advertising revenue. In fact, another anchor on “Squawk on the Street” pointed this out, that they hoped that Facebook would now make their developer platform more open and by going public, a new era of application development for the platform would be created and usher in profound innovations in how we communicate and share data with one another. That seems to be a pretty interesting thing for a public company to do, right? (more…)