Facebook does 5-for-1 stock split |
| CNNMoney - Oct 1, 2010 |
Those lucky few with Facebook stock shares now own a whole bunch more.
Facebook said Friday that it is doing a 5-for-1 stock split, marking the third split in the company's history. The privately held social networking company, founded in 2004, previously executed 4-for-1 stock splits in 2006 and 2007.
Facebook's shares won't have a clear market value until the company goes public -- a move that's not imminent. Prominent Silicon Valley investor Peter Thiel, an early Facebook backer, said at a tech conference last week that he doesn't expect the company to IPO until 2012 at the earliest.
Facebook currently has 1,700 employees, many of whom have ownership stakes in the company. Facebook founder Mark Zuckerberg, whose net worth Forbes magazine estimates at $6.9 billion -- most of it not yet liquid -- recently made headlines with his first major philanthropic donation: $100 million for public schools in Newark, N.J.
Read Full Article from CNNMoney
- Posted: 2010-10-01 21:05:03
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
