Facebook stock, which traded at $38 during its May IPO, has plummeted to an all-time low of $18.28.
For Facebook employees who have shares locked up, November can’t get here fast enough. That’s when they’ll be able to sell off their Facebook stock, although who knows what their shares will be worth by then. BMO Capital Markets analyst Daniel Salmon is predicting that shares will have dropped to a flimsy $15 by November.
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Facebook announced on Wednesday via its filing for an initial public offering (IPO) how the company fared in 2011, and not surprisingly, its employees racked up (and spent) big GWOP money last year.
The Facebook IPO provided details about the base salary of the team, including founder Mark Zuckerberg pulling in a salary of $483,333, plus a $220,500 bonus and “other compensation” worth $783,529.
The filing noted that he spent nearly $700,000 for costs related to private plane use “chartered in connection with his comprehensive security program and on which family and friends flew during 2011.” That includes passenger fees, fuel, crew and catering costs. Another $90,850 of that amount was for “costs related to estate and financial planning.”
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In February of 2004, a nerdy jewish kid from Harvard had an idea that would ultimately change the world. Mark Zuckerberg was an undergraduate at Harvard University when he created TheFacebook, now known worldwide as Facebook.com.
In 2012, you can’t go shopping, on vacation or even out to eat with out seeing a Facebook advertisement. Your mom, dad, sister, cousin, uncle, aunt and family dog all have a Facebook account. Some babies are even posted on the popular website before the baby father is revealed or even before the kid has a name. With all this attention the popular social networking site, Facebook is going public valuing the website at $100 Billion Dollars! Wowzers! Thats enough GWOP money to bake biscuits for the whole projects!!!!!
Checkout the Facebook timeline to IPO after the jump.
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