Facebook CEO says IPO Made Company Stronger
SAN FRANCISCO (AP) — Facebook CEO Mark Zuckerberg didn’t really want to take his company public last year, but he has changed his mind now that the Internet social network’s stock is steadily rising.
Zuckerberg told a San Francisco audience attending a technology conference that he believes the initial public offering of stock completed 16 months ago turned Facebook Inc. into a stronger company than it would have been had it remained private. He made his remarks late Wednesday, a few hours after Facebook’s stock hit its highest price since the IPO.
The stock gained $1.44 to close at $45.04, slightly above the previous peak reached on its first day of trading in May 2012. The shares then slipped into long descent amid concerns about Facebook’s slowing growth before bottoming out at $17.55.