Facebook IPO affected by Nasdaq technical issues

By Leeky · 6 replies
May 21, 2012
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  1. Nasdaq OMX Group Inc. faces scrutiny after shares of Facebook Inc. were plagued by delays and mishandled orders on its very first day of trading. Apparently computers used to drive...

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  2. Cycloid Torus

    Cycloid Torus Stone age computing. Posts: 3,003   +656

    "IPO software failed to work, despite thousands of hours of testing for every conceivable scenario" - I do wonder if they tested with simultaneous 10x levels of all variables - or maybe that was inconceivable...
  3. mosu

    mosu TS Guru Posts: 474   +84

    "Apparently computers used to drive the auctions were overwhelmed by order cancellations and updates in the opening moments of the hugely anticipated initial public offering." I believe order cancellations is the key word here and just proves that people realize what a big scam is Facebook.
  4. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,887   +1,223

    That's what I heard.... investors know that all of FB's revenue is based on ads, and in order to sell ads FB needs to use the data that users put on their profiles. But FB users don't want their data shared with companies trying to sell them ads. It's a catch-22.

    Nasdaqs issues didn't have anything to do with General Motors deciding to cancel their ad account with FB. They said it was because advertising on FB doesn't work.
  5. Vrmithrax

    Vrmithrax TechSpot Paladin Posts: 1,352   +293

    A company whose product exists solely on computers is plagued by computer issues on launch of their IPO... Such irony!

    As for the worth of Facebook, I have seen multiple reports on surveys that show over 60% of those polled feel that Facebook's value is massively over-inflated. Advertising and privacy concerns already pop up regularly with Facebook, now imagine how bad it will be with shareholder pressure to increasingly profitize the entire operation? I could easily see FB waning quickly as the revenue digging become more intrusive, and a new social network rising to fill the void.
  6. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,887   +1,223

    No, the irony is that they're sitting on the most valuable pile of user-specific info ever collected and they can't use it. Personalized advertising is the holy-grail of marketing. The scary part for FB is that their up and coming competition (Google+) happens to be an advertising genius. Google already has a store for music/movies/apps, and even their own mobile OS for phones and tablets. That's a comprehensive approach if ever there was one.
    FB is a social networking company moving into advertising. Google is an advertising company moving into social networking. Google is in the position to be the one-stop-shop for email, search (our door to the internet), shopping, maps, youtube, calendar, and social networking. FB is facing big problems with privacy and image. Doesn't mean they're going to fail, but they might not grow.
  7. Well it seems it only took them to sell shares for people to fainlly realise theat Facebook is all HOT AIR and life-wasting. Social indeed.

    Go Suckerberg!

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