Facebook's initial public offering is shaping up to be one of the largest in history. This morning the company told the Securities and Exchange Commission that it was expanding its offering ... again.
Now Facebook is planning to raise up to $16 billion from investors by taking a small slice of the company to the public. And it will likely be worth more than $100 billion on its opening day of trading. It could easily go higher.
Looking to get more popular on Facebook? Alex Melen will sell you 1,000 "likes" for about $75.
Melen runs an Internet marketing company. About six months ago, companies he worked with started coming to him more and more with a simple problem: They had created pages on Facebook, but nobody had clicked the "like" button.
"You would go there, and there would be two likes," Melen says. "And one of them would be the owner. And people right away lost interest in the brand."
Bloomberg took out its pencil, paper and calculator and came up with this number: $67 million.
That's how much the news service estimates Facebook co-founder Eduardo Saverin could save in federal income taxes after having renounced his United States citizenship in advance of social media company's public debut.
JPMorgan Chase faced more critics Tuesday, this time from some of its own shareholders at its annual meeting in Tampa, Fla. This comes after the bank disclosed it lost at least $2 billion last week in a bungled trading strategy.
The Securities and Exchange Commission is looking into the surprise loss, and the Justice Department has now reportedly opened a preliminary probe.
JPMorgan executives let shareholders do some venting at Tuesday's meeting.