Based on its sales, more than 80 per cent of which come from ads, today’s Facebook IPO is hugely over-valued, according to Bloomberg. For instance:
- Facebook sold 421.2 million shares at $38 each to raise $16 billion, a statement yesterday shows. That values the Menlo Park, California-based company at $104.2 billion, or 107 times trailing 12-month earnings, more than every S&P 500 member except Amazon.com Inc. and Equity Residential.
- Facebook, which priced at the top end of its range of $34 to $38 a share, is making its public debut at a valuation of about 26 times sales in the 12 months through March 31. That’s more than twice as much as AvalonBay Communities Inc. (AVB), currently the most costly company by that measure in the S&P 500.
According to Career Cast, being an online advertising manager is the second best job to have if you don’t have a college degree. Right after dental hygienist. It also comes with an average income of $87,000. Thoughts?
Guinness has created a QR code that we actually love. The scannable code shows up whenever a certain cup is filled with beer. As soon as you scan the cup it tweets about your pint, updates your Facebook status, checks you in on 4square, downloads coupons … you get the idea. Thanks BBDO New York.
Rob Steiner is now head of production at CP+B’s UK branch from W+K London.
Weber Shandwick is now the agency of record for PepsiCo’s Diet Pepsi PR account.
The New Republic is showing its readership how much it loves long reads.
rumours: Word on the street is that Tribal DDB is no longer doing work for Clorox.
Between James Murdoch sightings and surprise musical performances, here are the highlights from all the television networks’ upfronts.
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