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Friday, May 18, 2018

On This Day May 18,2012 ,Facebook raises $16 billion in largest tech IPO in U.S. history

On this day  May 18,2012 , Facebook, the world’s largest social network, holds its initial public offering (IPO) and raises $16 billion.

It was the largest technology IPO in American history to that date, and the third-largest IPO ever in the United States, after those of Visa and General Motors.

At the time it went public, Facebook was valued at $104 billion and had some 900 million registered users worldwide.

Facebook was founded as TheFacebook in February 2004 by Harvard University sophomore Mark Zuckerberg and fellow classmates Chris Hughes, Eduardo Saverin and Dustin Moskovitz.

The site originally was only for students at Harvard; however, it soon opened up to other universities

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