IPO buzz doesn't equal success, says history Video
IPO buzz doesn't equal success, says history Video Transcript
Facebook's idea expected later this week has whipped the financial world into a frenzy. It's a company that everyone knows that everyone uses and will be an evaluation in amount of money that has never been seen from an internet company. So the hype is everywhere. It's never been this way before. Just how big is big? Some analyst are predicting that Facebook could be worth as much as $100 billion. A price that CNET's Paul Sloan says is hyper inflated given the nature of Facebook system. From Wall Street standpoint, it's really, really expensive but no one in Wall Street wants to left out. So it's gonna be hugely popular and will probably do really well. What it does after that? We have no idea because Facebook has to create a business to actually live up to that $100 billion devaluation that will likely go public at. Few other internet companies have attracted this type of attention when they went public. Not even Google in 2004 or Yahoo in the late 90s. It's a good company. It's nuts. There was a flashing of panels and rocket ship that came back to earth. Analysts say it's the social media tech companies that went public in the last 2 years, Groupon, LinkedIn and Pandora that could act as Bell weathers for how Facebook will fair when it debuts. Zynga for example saw early success and now months later, struggles. The stock went up to 14, a little over 14. Now, it's below 8. It lost about 45% of it's value and all that 6 to 7 weeks and that's a really bad omen for Facebook. And that's exactly what Walls Street and the investing community won't like. In San Francisco, I'm Cara Sibouy, CNET.com for CBS News.
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