New York, August 16, (FinanceEnquiry.com) – Facebook (NASDAQ: FB) has decided to free up its shares of worth 271.1 million and hence boosted the number by 60 percent which can be traded and add to the concerns which weighed the stock since the company has announced its Initial Public Offering (IPO).
The chances of more stock sales means FB would have to work hard in order to influence their investors that they deserve a higher valuation as compared to their earnings. 14 percent of its shares have been freed up which amount to 1.91 billion and will be available for sale in the coming nine months period.
FB, which is worth $51.2 billion lost around $40 billion in market value since its IPO, which made the company, the worst performer among the all the other companies which raised its IPO. Even though, the investors were holding on its shares and did not sell it too quickly.
Microsoft (NASDAQ: MSFT) views FB as a strategic partner in the competition against Google (NASDAQ: GOOG) rather than a near term moneymaker. Peter Thiel, who was amongst the earliest investors of FB converted more than 9 million of its shares to Class A and Class B, although, Class A shares are easier to sell on the public markets.
Making money from the users who access it over mobile devices was the biggest challenge to the company. The number of ads dropped 2 percent in the second quarter from a year earlier among an increase in daily users. However, the mobile advertising contributed to $15 million in the second quarter and amounted to $1.18 billion.
Since, the company has added a service for software developers, it has influenced the users to download applications in mobile devices. The company has also launched a testing service which enables users to put ads on mobile phones.
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