Facebook IPO Price Announced Today at $28 to $35 Per Share.

facebook IPO Price Announced Today 28 to 35 Per Share

Facebook IPO Price

Facebook, founded in 2004 by Mark Zuckerberg,  announced this afternoon the opening price for its initial public offering at $28 to $35 per share. Facebook will offer 157,415,352 shares of Class A common stock in the near future.  At the time of it’s IPO, which could take place within a few weeks, Facebook is on course to become the world’s most valuable U.S. Internet company surpassing current record holder, Google, which was valued at $23 billion when it first went public in 2004.   The Wall Street Journal reported that Facebook would price its shares in the high $20s to mid $30s range, putting the company at a valuation of $85 billion and $95 billion.

Facebook Statement From Their S1 Filing Reads:

“Facebook, Inc. is offering 180,000,000 shares of its Class A common stock and the selling stockholders are offering 157,415,352 shares of Class A common stock. We will not receive any proceeds from the sale of shares by the selling stockholders. This is our initial public offering and no public market currently exists for our shares of Class A common stock. We anticipate that the initial public offering price will be between $28.00 and $35.00 per share.”

“We have two classes of common stock, Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except voting and conversion rights. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to ten votes and is convertible at any time into one share of Class A common stock. The holders of our outstanding shares of Class B common stock will hold approximately 96.3% of the voting power of our outstanding capital stock following this offering, and our founder, Chairman, and CEO, Mark Zuckerberg, will hold or have the ability to control approximately 57.3% of the voting power of our outstanding capital stock following this offering.
We have applied to list our Class A common stock on the NASDAQ Global Select Market under the symbol “FB.”  ”

“We are a “controlled company” under the corporate governance rules for NASDAQ-listed companies, and our board of directors has determined not to have an independent nominating function and instead to have the full board of directors be directly responsible for nominating members of our board.”

Facebook S1 Amendment Filing IPO 28 to 35 Per Share

Download the full Amended S1 Facebook Filing Here.

See Facebook Fact Sheet here.

Discovery Channel Acquires Revision3 Top Digital Video Provider

Purchase  of Revision3 Will Bolster Discovery’s Leadership in Creating & Delivering Content Across All Screens

Revision3 acquired by Discovery Channel

Discovery Communications announced today that it has entered into an agreement to acquire San Francisco-based digital video provider Revision3. Leveraging Revision3’s vast experience in creating engaging online video content in a cost-effective manner, the transaction helps fuel Discovery’s strategy of being the number one nonfiction media company on all screens.

Revision3 was founded in 2005 by Kevin Rose, (I call him Genius) also founder of Digg.com and TechTV, Jay Adelson (Digg, Equinix) and David Prager (TechTV). Louderback, former editor-in-chief of PC Magazine and a veteran of TechTV, joined Revision3 as CEO in 2007. Louderback and team will continue their leadership of Revision3 under the new ownership structure.

*For those of you that don’t know the history of Digg.com and Kevin Rose, we will be sharing a post later this week regarding how Digg.com and Revision3, under Kevin and Jay’s direction, helped change the way the media delivers your news online today!

“Discovery’s mission to ignite viewers’ curiosity and its history of pioneering new platforms – from cable to HD to 3D – make it the logical leader in this explosive new wave of digital video growth,” said JB Perrette, Chief Digital Officer, Discovery Communications, who made today’s announcement. “With Revision3’s industry-leading management team and roster of great talent, we look forward to cultivating more original content and fresh personalities that resonate with passionate communities online and across all platforms, while enhancing our innovative marketing solutions for advertising partners.”

The leading independent Internet digital video production company, with more than 23 million monthly unique viewers across 27 digital channels, Revision3 has created a technology and distribution platform that powers the scalable production, monetization and distribution of video content for passionate online communities. With programs hosted by authentic online celebrities, including top bloggers, Twitter stars and YouTube sensations, the company’s content aligns with many of Discovery’s top linear program genres, such as tech, cooking and popular science. Revision3 boasts one of the 10 largest networks on YouTube and distribution with more than 40 other partners including iTunes, Google, AOL, Yahoo!, TiVo, Roku, Boxee, CNET and Zune.

“Revision3 has always focused on creating compelling programs featuring authentic hosts that sit at the center of engaged and targeted communities,” said Jim Louderback, CEO of Revision3. “We’re huge fans of Discovery’s networks, and couldn’t imagine a more appropriate company to team up with to develop the future of original web-based video.”

For this transaction, Discovery Communications was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Revison3 was advised by RBC Capital Markets and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.

The acquisition is subject to customary closing conditions, and the parties expect the closing to occur on or before June 1.