Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Facebook About to Make a Lot of New Rich ‘Friends?’

Details

  • Description

    FBN’s Neil Cavuto on the social networking site’s IPO plans.

  • Duration 2:14
  • Date

Clips

Also in this playlist...

Tech Industry

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Welcome everybody I'm Neil Cavuto and our top story tonight as some billionaires and a lot of millionaires about a thousand -- to be admitted and soon.

The State's books saying officially now a huge thing the social networking site.

Just filing for an IPO.

Looking to raise up to five billion dollars value the entire company.

At a hundred billion dollars or more of this of for a company right now making about a billion dollars a year in net profit.

But when it happens it will make a founder Mark Zuckerberg.

Worth more than twenty audience and actors in one fell swoop instantly making him.

One of the world's richest human beings not bad for a Harvard dropout who -- kicked around the idea.

-- what would become a glorified -- site in his dorm room.

Not even a decade ago.

Back then Google was quickly taking over the I did world now -- -- networking dinosaur by comparison.

To FaceBook today.

The goal comparison is that because most suspect it's the Google model.

The Zuckerberg and company are trying to emulate great sizzle to hope public take your -- get rich.

Back on August 19 2004.

Google went public at 85 dollars a share in what was then an unusual Dutch auction.

That allowed private investors to come in and essentially bid on the number of -- they wanted and at what price it was -- But for those of god and then a rich return today.

Dual trading at around 500 AG.

Dollars a share FaceBook hopes a new Google justice and may be imitate some while Google's social justice is well.

Talk to Zuckerberg wants to share some of that -- offering where it is sites.

800 million users practice would no increase -- its -- offering back in 2000 -- And maybe so but that does not mean for anyone connected to this company especially the originals the return won't be anything -- Then.

Wicked incredible.

So much we don't know yet.

It's so much we do know -- -- a lot of folks are about to get very.

Load More