Facebook IPO Timeline

Since the day Mark Zuckerberg launched the now #1 social network from his dorm room at Harvard in February of 2004, an IPO was inevitable. According to The Facebook Effect by David Kirkpatrick there were offers to buy Facebook by 11 different companies including Viacom, Google, Yahoo and Microsoft. But in the words of Sean Parker, “A million dollars isn't cool, you know what's cool? A billion dollars.” (via The Social Network movie.

And billions of dollars is what Founder, Chairman and CEO of Facebook believed his company was worth.

Wednesday, Feb 1 , 2012

  • Facebook announced plans for its IPO in an official Form S-1 SEC filing.

  • Facebook says it has 845 million monthly active users (MAU), 2.7 billion likes and comments per day, 250 million photos uploaded per day and 100 billion friendships.

  • 2010 Revenue was reported at $1,974 million; 2011 Revenue was reported at $3,711 million.

Wednesday, March 7, 2012Monday, April 9, 2012Monday, April 23, 2012
  • Facebook says it has 901 million monthly active users, 3.2 billion likes and comments per day, 300 million photos uploaded per day and 125 billion friendships.
Thursday, May 3, 2012
  • Facebook files Amendment No. 5 to Form S-1 where it sets a price range of $28 to $35 for its IPO.
    "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."
  • Total shares to be offered = 337,415,352
Monday, May 7, 2012
  • Facebook kicks off its investor road show in Manhattan.
Tuesday, May 8, 2012
  • Road show heads to Boston. Michael Pachter, an analyst for Wedbush Securities, make a big deal over founder and CEO, Mark Zuckerberg, showing up wearing a hoodie rather than the typical Wall Street appropriate a suit and tie. Patcher says on Bloomberg TV, "Mark and his signature hoodie? I mean, he's actually showing investors he doesn't care that much, he's going to be him, and he's gonna do what he's always done, and I think that's a mark of immaturity."
Wednesday, May 9, 2012
  • Facebook files Amendment No. 6 to Form S-1 expressing caution about revenue growth due to rapid shift by users to using mobile devices to access Facebook where they are not making much money from advertising.
  • "Mobile MAUs. We define a mobile MAU as a user who accessed Facebook via a mobile app or via mobile-optimized versions of our website such as m.facebook.com, whether on a mobile phone or tablet such as the iPad, during the period of measurement. Worldwide mobile MAUs increased by 69% from 288 million as of March 31, 2011 to 488 million as of March 31, 2012."
  • "Increasing Mobile Usage. Increasing use of Facebook on mobile devices will also affect our performance, particularly if mobile use substitutes for use on personal computers. Historically, we have not shown ads to users accessing Facebook through mobile apps or our mobile website and we cannot be certain that our mobile monetization approaches will be successful in generating meaningful revenue. We cannot quantify the extent to which mobile usage of Facebook is substituting for, rather than incremental to, usage of Facebook through personal computers, but we generally expect mobile usage to increase at a faster rate than usage through personal computers for the foreseeable future."
    Thursday, May 10, 2012
    • According to Reuters, Bank of America analyst Justin Post held a conference call with big investors where he revealed the lower estimates.
    Friday, May 11, 2012
    • The road show wrapped up in Palo Alto, California. The company "signals" that it may start showing ads on websites other than Facebook, according to the Associated Press.
    Monday May 7 to Tuesday May 15, 2012
    • During road show analysts at Morgan Stanley, Goldman Sachs and JP Morgan reduced their internal revenue forecasts which did not get disclosed during the road show or before the IPO. This information will not be revealed until Tuesday May 22, several days after the IPO.
      Tuesday, May 15, 2012
      • Facebook files Amendment No. 7 to Form S-1 increasing the IPO price range to $34 to $38 per share.
        "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 $34.00 and $38.00 per share.
      • "Total Shares to be Offered = 421,233,615
      • In an unexpected move, the day before Facebook establishes the initial price of its shares, General Motors announces it is withdrawing its advertising from the social networking site. GM says the ads simply don't work.
      Wednesday, May 16, 2012
      • Facebook files Amendment No. 8 to Form S-1 increasing the number of shares offered by 84 million shares to a total offering of 421,233,615 shares.
      • Facebook, Inc. is offering 180,000,000 shares of its Class A common stock and the selling stockholders are offering 241,233,615 shares of Class A common stock. We will not receive any proceeds from the sale of shares by the selling stockholders.
      • Total Shares to be Offered = 337,415,352
      Thursday, May 17, 2012
      • Facebook prices IPO at $38 per share which raises $16 billion.
      Friday, May 18, 2012
      • 9:30am - The regular U.S. stock market trading day beings. NASDAQ tells traders that Facebook IPO will start trading at 11am.
      • 11:00am - The time NASDAQ says the Facebook IPO will start comes and goes and still no trading. The next 30 minutes sees confusion all around as no-one seems to know what is going on.
      • 11:28am - An unnamed NASDAQ staffer announced that shares in Facebook will being trading in two minutes.
      • 11:30am - Shares in Facebook begin trading at $38. More than 80 million shares change hands in the first 30 seconds.
      • Midday - Some traders complain that their Facebook orders were not being completed. Others say they are getting shares at a higher price than agreed.
      • Mid-afternoon - Several traders make fruitless requests for NASDAQ to suspend trading in Facebook while problems are sorted out.
      • 4:00pm - NASDAQ closes with Facebook stock peaking at $42 but closed the first day at $38.23, up 0.6 percent from IPO price.
      Saturday May 19, 2012
      • The day after Facebook’s IPO, Mark Zuckerberg marries longtime girlfriend Priscilla Chan and they honeymoon in Rome.
      Monday, May 21, 2012
      • NASDAQ issues a “mea culpa,” explaining that problems were caused by a “technical error.” Traders submitting changes to their orders for Facebook shares on Friday morning, sent NASDAQ's software into a loop. At 11:30am, NASDAQ changed to a different system allowing trading to begin. That meant some orders that came in during the switch from one system to the other, did not go through. Others were filled at the wrong price later on the Friday.
      • Close of NASDAQ trading, Facebook shares fall to $34.03, down 11 percent for the day, down 10 percent from IPO price
      Tuesday, May 22, 2012
      • Some brokerages say they are still not sure if some of their orders had been processed and at what price.
      • Mark Zuckerberg sells 30.2 million Facebook shares at $37.58 each, for $1.13 billion. Director Peter Thiel offloads 16.8 million Facebook shares for $633 million. By the close of trading that day, the shared had fallen to $31, down 8.9 percent for the day, down 18 percent from IPO price. But Zuckerberg saved himself $174 million by cashing in early.
      • A Reuters report says analysts at Facebook’s lead underwriter, Morgan Stanley, received “privileged information” about Facebook’s earnings, before the share’s market debut, and didn’t share it with ordinary investors.
      • Later in the day, another Reuters report says Morgan Stanley and three other underwriters, Goldman Sachs, JP Morgan and Bank of America, reduced their earnings outlook for Facebook to “strikingly similar” levels. Observers regard this lining up of earnings estimates as unusual.
      • NASDAQ is sued in the U.S. District Court in Manhattan over the trading problems from the previous Friday (day of Facebook IPO)
      Wednesday, May 23, 2012
      • A group of Facebook shareholders file a lawsuit in New York district court, alleging. that key information about Facebook’s financial fortunes was “selectively disclosed” to big banks ahead of the public offering. Facebook issues a statement saying the claims are “without merit.”
      • Facebook stocks closed at $32, up 3.2 percent for the day, down 16 percent from IPO price.
      Thursday, May 24, 2012
      • Facebook stocks closed at $33.03, up 3.2 percent for the day, down 13 percent from IPO price
      Friday, May 25, 2012
      • Facebook stocks closed at $31.91, down 3.4 percent for the day, down 16 percent from IPO price
        Tuesday, May 29, 2012
        • Facebook stocks closed at $28.84, down 9.6 percent for the day, down 24 percent from IPO price.
        Wednesday, May 30, 2012
        • Closed at $28.19, down 2.3 percent for the day, down 26 percent from IPO price
        Thursday, May 31, 2012
        • Closed at $29.60, up 5 percent for the day, down 22 percent from IPO price
        Friday, June 1, 2012
        • Closed at $27.72, down 6.4 percent for the day, down 27 percent from IPO price
        Monday, June 4, 2012
        • Closed at $26.90, down 3 percent for the day, down 29 percent from IPO price
        Tuesday, June 5, 2012
        • Closed at $25.87, down 3.8 percent for the day, down 32 percent from IPO price
          Wednesday June 6, 2012
          • NASDAQ announces it will compensate brokerages that lost money because of the technical glitch on the day of the IPO. They plan to pay $13.7 million in cash and provide $26.3 million of trading discounts to affected member firms for select trades.
          • Closed at $26.81, up 3.6 percent for the day, down 30 percent from IPO price
          Thursday June 7, 2012
          • Closed at $26.31, down 1.9 percent for the day, down 31 percent from IPO price
          Friday June 8, 2012
          • Closed at $27.10, up 3 percent for the day, down 29 percent from IPO price
          Monday June 11, 2012
          • Closed at $27.00, down 0.4 percent for the day, down 29.4 percent from IPO price
          Tuesday June 12, 2012
          • Closed at $27.40, up 1.5 percent for the day, down 28.3 percent from IPO price
          Wednesday June 13, 2012
          • Closed at $27.27, down 0.5 percent for the day, down 28.7 percent from IPO price
          Thursday June 14, 2012
          • Closed at $28.29, up 3.7 percent for the day, down 26 percent from IPO price
          Friday June 15, 2012
          • Facebook files a motion in the Federal District Court in the Southern District of New York requesting that all shareholder lawsuits be consolidated and points the blame at the NASDAQ for their technical errors that botched the IPO and resulted in less than expected performance of the Facebook stock.
          • Facebook CTO Bret Taylor announces that he is leaving the company for more entrepreneurial pursuits via his Facebook page.
          • Closed at $30.01, up 6.1 percent for the day, down 21.5 percent from IPO price
          Monday June 18, 2012
          • Facebook buys Face.com for between $80 million and $100 million, adding technology that enables facial recognition in photos.
          • Facebook's stock has had its third consecutive day of gains. The stock increased $1.40, or 4.7 percent, to close at $31.41.
          Tuesday June 19, 2012
          • Facebook may have a future in mobile advertising with news that mobile ads are clicked 13x more, earn 11x more money than its desktop ads.

          • Closed at $31.99, up 1.8 percent for the day, down 15.8 percent from IPO price.
          Wednesday June 20, 2012
          • Closed at $31.60, down 1.2 percent for the day, down 16.8 percent from IPO price.
          Thursday June 21, 2012
          • Closed at $31.84, up 0.8 percent for the day, down 16.2 percent from IPO price.
          Friday June 22, 2012
          • Closed at $33.05, up 3.8 percent or the day, down 13 percent from IPO price.
          Monday June 25, 2012Tuesday June 26, 2012
          • Closed at $33.10, up 3.2 percent for the day, down 12.9 percent from IPO price
          Wednesday June 27, 2012
          • Closed at $32.23, down 2.6 percent for the day, down 15.2 percent from IPO price.
          Thursday June 28, 2012
          • Closed at $31.36, down 2.7 percent for the day, down 17.5 percent from IPO price.
            Friday June 29, 2012
            • Closed at $31.095, down 0.8 percent for the day, down 18.2 percent from IPO price.
            Monday July 2, 2012
              Tuesday July 3, 2012
              • Closed at $31.20, up 1.4 percent for the day, down 17.9 percent from IPO price.
              Thursday July 5, 2012
              • Closed at $31.47, up 0.9 percent for the day, down 17.2 percent from IPO price.
              Friday July 6, 2012
              • Yahoo and Facebook agree to cross-license their entire patent portfolios to each other without money changing hands and sell ads together.

              • Closed at $31.73, up 0.8 percent for the day, down 16.5 percent from IPO price.
              Monday July 9, 2012Tuesday July 10, 2012
              • Closed at $31.47, down 2.2 percent for the day, down 17.2 percent from IPO price.
              Wednesday July 11, 2012Thursday July 12, 2012
              • Facebook releases a new “Weddings and Celebrations” feature that appears above birthdays on the homepage. You can congratulate either member of the couple without leaving the page.

              • Closed at $30.81, down 0.5 percent for the day, down 18.9 percent from IPO price.
              Friday July 13, 2012
              • Closed at $30.72, down 0.3 percent for the day, down 19.2 percent from IPO price.
                Monday July 16, 2012
                • Closed at $28.245, down 8.1 percent for the day, down 25.7 percent from IPO price.
                Tuesday July 17, 2012
                • Closed at $28.09, down 0.5 percent for the day, down 26.1 percent from IPO price.
                Wednesday July 18, 2012
                • Closed at $29.11, up 3.6 percent for the day, down 23.4 percent from IPO price.
                Thursday July 19, 2012
                • Closed at $29.00, down 0.4 percent for the day, down 23.7 percent from IPO price.
                Friday July 20, 2012
                • Fox reports that the Nasdaq is planning to release a compensation plan for investors hurt by the Facebook IPO Mess.

                • Closed at $28.76, down 0.8 percent for the day, down 24.3 percent from IPO price.
                  Monday July 23, 2012
                  • Closed at $28.75, down 0 percent for the day, down 24.3 percent from IPO price.
                  Tuesday July 24, 2012
                  • Just in time for the Olympics, Facebook opens its first international engineering office in London.

                  • Director of Product Management Carl Sjogreen, the man behind the Facebook Open Graph, leaves Facebook for some family time and to figure out his next professional move.

                  • Closed at $28.45, down 1 percent for the day, down 25.1 percent from IPO price.
                  Wednesday July 25, 2012
                  • Zynga explains its second quarter revenue decline on Facebook promoting new games versus existing games causing Zynga's stock price to plummet.

                  • Closed at $29.34, up 3.1 percent for the day, down 22.8 percent from IPO price.
                  Thursday July 26, 2012Friday July 27, 2012
                  • Buddy Media, Nanigans, BLiNQ take advantage of Facebook’s new ads API’s.

                  • Closed at $23.705, down 11.7 percent for the day, down 37.6 percent from IPO price.
                  Monday July 30, 2012
                  • Closed at $23.15, down 2.3 percent for the day, down 39.1 percent from IPO price.
                  Tuesday July 31, 2012
                  • Facebook unleashes powerful new marketing tool allowing pages to target their posts with certain genders, ages, and other characteristics.

                  • Closed at $21.71, down 6.2 percent for the day, down 42.9 percent from IPO price.
                  Wednesday August 1, 2012
                  • Facebook made its App Center, the storefront for Facebook desktop and mobile applications, available in every country where Facebook is.

                  • Closed at $20.88, down 3.8 percent for the day, down 45.1 percent from IPO price.
                  Thursday August 2, 2012
                  • Closed at $20.04, down 4 percent for the day, down 47.3 percent from IPO price.
                  Friday August 3, 2012
                  • TechCrunch focuses on the state of Facebook’s platform, products, ads and mobile initiatives at the 5th annual CrunchUp.

                  • AKQA Chairman Tom Bedecarre and Facebook VP Greg Badros talk at CrunchUPabout what advertisers want from Facebook. WPP, the world's largest communications services group, is upping it’s spend on Facebook ads this year from $200 million to $400 million.

                  • Closed at $21.09, up 5.2 percent for the day, down 44.5 percent from IPO price.
                  Monday August 6, 2012
                  • Closed at $21.92, up 3.9 percent for the day, down 42.3 percent from the IPO price.
                  Tuesday August 7, 2012
                  • Closed at $20.72, down 5.5 percent for the day, down 45.5 percent from the IPO price.
                  Wednesday August 8, 2012Thursday August 9, 2012
                  • Have a photo on Facebook that you think should be on the back of a postcard. Now Facebook lets you turn your photos in to real postcards.

                  • Closed at $21.01, up 1.4 percent for the day, down 44.7 percent from the IPO price.
                  Friday August 10, 2012
                  • Facebook settles with the FTC but does not face any financial penalties. However, Facebook does consent to 20 years of privacy audits.

                  • Closed at $21.087, up 0.4 percent for the day, down 44.5 percent from the IPO price.
                  The Facebook stock has been on a roller coaster ride of ups and downs. To continue to track the Facebook stock you can go to the Facebook stock page on the NASDAQ.