Top 10 Tech Fails of 2012
IP-(Uh)-O Award: Facebook
Although Facebook’s IPO initially set a record for technology companies by raising more than $16 billion, it quickly became the decade’s worst initial public offering. When the social networking giant went public in May, its initial offering price was set at $38, while the company was valued at $104 billion. However, a little more than two weeks later, Facebook shares had dropped dramatically to $26.90 per share.
As it turns out, Facebook’s inability to monetize mobile traffic has caused a lot of concern among investors.Although the stock has rebounded from a recent slide, the share is still way off the $38 debut price. Perhaps being added to the Nasdaq will help.