Friday, May 18th the social media mega mind Facebook went public. 421 million shares became public in Facebook’s initial public offering (IPO), of those 82 million sold in the first 30 seconds. There was a huge amount of buzz surrounding Facebook’s IPO and projections ran rampant among individual investors, big business, partners and financial analysts. Facebook raised it’s per share price by 15% to $38/share after, (what some say), a strategically planned announcement by General Motors (GM) that they are pulling their $10 million ad spend from Facebook.
