The bid by Facebook highlights the company's efforts to accelerate its push into video as it tries to take advertising dollars from television and increase the time people spend on its platform.
Google Inc is expected to command more than a third of the world's $140 billion digital advertising spending this year
Google Inc announced a surprise overhaul of its operating structure on Monday, creating a holding company called Alphabet to pool its many subsidiaries and separate the core web advertising business from newer ventures like driverless cars.
Shares of the world's No. 1 online social network soared as much as 15 per cent in extended trading before suddenly falling to $47.40, down 3 per cent from its $49.10 close.
The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
.jpg)
The eight-year-old online messaging service gave potential investors their first glance at its financials on Thursday when it publicly filed its IPO documents, setting the stage for one of the most-anticipated debuts in over a year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances