Transcript for Facebook IPO: Social Network to Go Public
-- the FaceBook the company expected -- file to go public as early as today and it may be the biggest stock offering in years when it hits Wall Street. ABC's Bill -- is here with so much more good morning bill good morning Robin you know Steve Martin -- to do little bit about how to be a millionaire step one. Get a million dollars the modern version of that is how to be a multi billionaire step one. Create something in your dorm room that changes the way human beings interact. If you guys -- and that there's a FaceBook. -- invented FaceBook of. Of course it is the stuff of movies because the reality is so hard to conceive. But yes we now live in rural -- college student -- -- an idea in computer code. And before -- -- -- -- company worth more than McDonald's or Disney World school. Billion dollar valuation it turns out that the social network under sold it. Because of the analysts are right Wall Street could decide that FaceBook is worth a hundred billion dollars this week. Making Mark Zuckerberg the richest 27 year old since the -- I know it's a private company. Come across. How much income public power -- -- correction. -- the advantage of being a private company. The best guess is put his -- worth around 24 billion dollars nowhere near the Bill Gates and Warren Buffett neighborhood. But comfortably above the Google founders and most of the -- is a Saudi Arabia and about a thousand FaceBook employees stand to become multi millionaires once the stock goes public. So why are investors so eager to trade this -- putting -- in less than a decade over 800 million people have signed on. Which means if FaceBook -- country only China and India would have more citizens. And most of their citizens freely share their likes and dislikes which is pure gold advertisers. Over -- as the evolve new services transition away from the state social network the opportunity for them to grow revenue is is very enormous and wallet is always good to see an American business succeed this IPO is a real sign of the times. For comparison consider that UPS is worth about 75 billion dollars. But they employ around half a million people all over the world FaceBook could be worth even more. Yet only around 3000. People actually work there. -- most massive companies make things. FaceBook makes connections. And -- the -- that's only time of self that's good business model but they're playing naysayers when Google went public. But if you bought a share on that day at 84 dollars -- can sell it the day for 500 and dollars. So there's -- money to remain in this game -- only 3000 employees only through -- have a very happy but we haven't you ever got there they get what it was worth at least an eyewitness. Verticals Ferrari sales by occasionally until -- -- going to tell -- thank you go.
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