If nothing else, the statistics from Facebook, Google, LinkedIn, and Yahoo illustrate as much.
The spotlight is not turned on Google or Facebook, Yahoo or LinkedIn individually, but rather on the industry as a whole. Google is helping historically black colleges and universities improve their computer science programs.
And he said that the banks taking Facebook public have learned from the 10 IPOs of social media companies in the past year and are better able to gauge how much stock to make available in an initial offering.The closing price means Facebook is now worth about $105billion, more than Amazon, McDonald’s, and storied Silicon Valley icons Hewlett-Packard and Cisco.
It is Facebook, after all, a place where people are emotionally invested in endless online diversions and rekindled friendships, an endless depository of baby photos, favourite songs and fleeting memories.'It's probably one of the first times there has been an IPO where everyone sort of has a stake in the outcome,' said Gartner analyst Brian Blau. LinkedIn and then Yahoo had already followed Google’s lead, making Facebook's absence from the club conspicuous.
While most Facebook users won't see a penny from the offering, they are all intimately familiar with the company.'It wasn't quite as exciting as it could have been,' said Nick Einhorn, an analyst with IPO advisory firm Renaissance Capital.
Facebook offered nearly 20 per cent of its available stock in the IPO, so there was enough to meet demand. Figures are tougher to come by in tech specifically, but an oft-cited fact is that the pool of potential hires is itself largely white and Asian, and largely male.

It will be subject to broad economic forces and held accountable for profit it earns -or loses- from one quarter to the next.But Facebook is one a rare companies whose IPO transcends Wall Street's money lust. All four companies employ just 3 to 4 percent Hispanic workers and 2 percent black workers. Blacks and Hispanics are a small slice of college grads and of computer science degree holders. Around 420billion shares have been made available today.It will bring in many millions of dollars for Facebook's earliest employees, such as Mr Zuckerberg and co-founder Eduardo Saverin. He has emerged as the latest in a lineage of Silicon Valley prodigies who are alternately hailed for pushing the world in new directions and reviled for overstepping their bounds.Although Mr Zuckerberg is selling about 30 million shares, he will remain Facebook's largest shareholder. In leadership roles, that figure rises toward 80 percent, and in tech-specific leadership roles, it climbs toward 85 percent.

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