Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startup Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startups, parties, and interesting people. Follow him on Twitter, on Facebook, and Google+.
Facebook’s stock price passed $38 per share today, allowing initial investors to turn a profit over a year after it became a public company. At the time of writing, it’s trading at around the $38 mark but it briefly reached $38.10.
Everyone probably remembers the spectacular IPO that the social networking company had back in 2012. The price was set at $38 per share, valuing the company at $104 billion and was expected to raise $16 billion just in its offering.
However, due to technical glitches with the NASDAQ stock exchange and other complications, the stock fell flat and over the past year has not done as well as many analysts had expected. But, the stock seems to have shown much more life in the past couple of weeks — more than the past few months — as the company revealed in its Q2 2013 earnings that its mobile efforts brought in 41 percent of its ad revenue.
The company’s stock price also has risen on news today that Facebook is rolling out a new pilot developer program giving publishers increased exposure on mobile platforms in exchange for revenue share.
Here’s Facebook’s stock price today, as tracked by Google Finance:
Photo credit: Justin Sullivan/Getty Images
Get the TNW newsletter
Get the most important tech news in your inbox each week.