Biggest Business battles of 2012

6. No “likes” for Facebook

The decision of avoiding trading hordes for long has turned out to be a big mistake for Mark leaving him with no option but to take Facebook public. The year 2012 doesn’t seem to be acclamatory for Facebook founder Mark Zuckerberg. 

The long awaited public offering was bumped up by problems as Nasdaq had system malfunctioning in the very first hour. The sale of the Facebook shares were delayed by around thirty minutes leaving the shareholders completely with no idea of how many shares overall were being apprehended, what prices had been attained.

More: Business Events Which Made Headlines In 2012

Though Facebook achieved $16 billion of new cash but unfortunately it couldn’t fetch too many “shares” as it was expected.  Also, the price offered was 11 percent higher than the initial offering and raised the price by $45.

A bunch of the company shareholders also filed a lawsuit against Facebook complaining that many of the secret information were leaked to big banks prior to the IPO.

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