Without a doubt, Facebook’s IPO is going to be a smash hit.
The social networking giant, led by the hoodie-wearing Mark Zuckerberg, is going to sell more than $16-billion of shares to frenzied investors scrambling not to miss out on the biggest IPO of the year..history?
The IPO will give Facebook a staggering $96-billion valuation and, if it’s possible, subject the company to even more scrutiny, fascination and criticism.
And while I’m sure Facebook shares will soar above the $34 to $38 offering price when it starts trading tomorrow, I personally wouldn’t buy them, other than to flip them to some sucker looking to scramble on to the Facebook bandwagon.
It’s not because I’ve been ambivalent for Facebook for a long time, it’s that Facebook is hitting the IPO market at its zenith, and it has nowhere to go but down.
In the short-term, Facebook won’t become any less popular or see the number of users – currently more than 900 million – decline, but there are growing indications the Roman Empire of the social media landscape may be crumbling. Read more at Forbes