ipo

Facebook IPO compensation plan reportedly due next week

Nasdaq plans to release its Facebook IPO investor compensation plan next week and it will probably be more than the $40 million originally proposed, Fox Business News reported today.

The deal will be all cash and Nasdaq is working with the Securities and Exchange Commission on a second draft of the proposal, unnamed sources told Fox.

The SEC has declined to comment. We have a call into the Nasdaq and will update when we get more information.

The stock exchange's bungle of the social network company's opening day of trading has been widely criticized.

Facebook's first day … Read more

Kayak sets IPO price at $26 a share

Facebook's teeter-totter on the Nasdaq has caused some to wonder whether it's a good idea for Internet companies to go public. After a little back-and-forth and a bit of careful consideration, the online travel agency Kayak has decided to take the plunge.

Trading is scheduled to begin on the Nasdaq tomorrow, with the company's initial public offering set at $26 per share -- above the expected range of $22 to $25, according to CNBC. Kayak aims to sell 3.5 million shares, it said in its regulatory filing last week. At $26, that would mean raising $91 … Read more

McNamee says behavior on Facebook IPO is 'criminal'

As usual, tech investor Roger McNamee didn't hold back today, telling Bloomberg TV that the Nasdaq and Morgan Stanley are to blame for Facebook's IPO bungle as their actions on the stock "bordered on criminal."

McNamee, whose firm Elevation Partners (the private equity firm he co-founded with Bono) invested in Facebook, said the public offering put a spotlight on the "extreme corruption" in Wall Street and the IPO bungle was done on purpose to benefit Morgan Stanley.

"NASDAQ's behavior on this in my mind borders on criminal.I think Morgan Stanley's … Read more

Twitter's Costolo: We have a 'truckload of money in the bank'

When Facebook finally announced its initial public offering, many believed that Twitter would be close behind. But on yet another occasion, the company's chief executive, Dick Costolo, says it won't be happening.

"We are going to remain private as long as we want," Costolo told the Los Angeles Times in an interview published yesterday. "I like being private for all sorts of reasons. It allows us to think about the business and the way we want to grow it in the small boardroom as opposed to being beholden to a particular way of growing the … Read more

Kayak Software seeks to raise $87 million in IPO

Kayak Software is finally ready to test the IPO waters.

The online travel company announced today in a regulatory filing that it aims to raise as much as $87.5 million by selling 3.5 million shares for between $22 and $25 each. Shares will trade on the Nasdaq Stock Market under the ticker KYAK.

Kayak, which first filed to go public in 2010, effectively put its IPO in dry dock in May after company executives decided against holding its "roadshow" with would-be investors around Memorial Day as planned. Executives were reportedly worried about the willingness in the … Read more

Facebook foibles failed to fend off fund managers

Facebook's stock plummet in May wasn't enough to push away fund managers, according to a new report.

The Wall Street Journal said yesterday that it commissioned Morningstar to compile information on purchases made by U.S.-based mutual funds and exchange-traded funds in May. Among the findings was the revelation that "at least" 160 of those funds bought Facebook shares in May.

According to the Journal, some of the funds that acquired Facebook shares during the month were so enamored of the social network that they disregarded their focus and went after a risky bet. In … Read more

Save the date: Facebook sets time for first earnings report

Get ready for another wave of round-the-clock analysis over Facebook's business.

The company today set July 26 as the day it will release its first earnings report since going public May 18, according to a note posted on Facebook's investor relations page.

Facebook will report earnings for its second quarter. The company posted $1.6 billion in revenue for its first quarter -- a report it put out during the run-up to its IPO -- and net income of $205 million, which was down 12 percent from the year-earlier quarter.

The stock, as you can see from the … Read more

Facebook is continuing to shed U.S. visitors

A recent report from analyst firm ComScore said that unique U.S. visitors to Facebook (FB) dropped slightly in May compared with April and March. But an analysis of additional ComScore data suggests that the slowdown could be more significant and longer lasting. Falling traffic could be a concern to investors, who justify Facebook's high market value by pointing to its growth potential.

Unique visitors are an important measure of growth and activity for social networks and an indicator of whether users might be tiring of a site. According to Reuters, research firm ComScore said that the number of … Read more

Nasdaq CEO: 'Arrogance' led to Facebook IPO flop

Nasdaq's chief executive says "arrogance" and "overconfidence" among the stock exchange's staffers contributed to Facebook's mishandled IPO last month.

Robert Greifeld said Sunday that the stock exchange simulated high trading volumes on the trading systems before the May 18 IPO but was unprepared for the number of canceled orders just before the offering. "Testing didn't account for the increasing volume at which cancellations can come in," he told a conference of corporate directors at Stanford University's Law School, according to a Wall Street Journal account of the event.

Nasdaq … Read more