PUBLIC OPINION > Facebook Isn't Worth Its $5 Billion IPO
News 2012/02/02 23:40:18
A million dollars isn't cool. You know what's cool? Five billion dollars. Wrong! Earlier this week, Facebook filed an initial public offering (IPO) of $5 billion, meaning that the social media company -- or at least, part of it -- is going public. But in light of recent changes that may or may not involve a certain Timeline, faith in the social network is waning. Shepard Smith asked SodaHeads if they thought the number sounded right.
Do You Think Facebook Is Worth the Huge IPO It's Expected to Have?
80% Said No
Well this isn't looking good. The whole point of listing an IPO is to get the company involved in a public exchange, but if the public doesn't think Facebook is worth its estimate, it could spell trouble. Then again, the Timeline update is working against the network right now, so it could just be a public slump. It's tough to determine how much a company should be worth without any insider perspective, but the general consensus, based on comments, seems to be that Facebook is only going to decrease in value. One commenter wrote, "Just another bubble ready to burst." Another wrote, "F--k Facebook." You get the idea.
Support Skews Younger
Though voters between the ages of 18 and 34 didn't agree with the estimate either, they were significantly more likely to give a thumbs up. But that's not necessarily a great sign. People in their late 20's might have some extra money to throw at the stock market, but without the support of older investors they could have a hard time getting leverage.
Money in the Bank
Despite the age demographics, Facebook still has the big money on its side, and that's an important demographic to have for obvious reasons. Voters who make more than $100K a year agreed with the estimate -- one of the few groups that did, and one of the few with an actual edge on the matter.
Progressives Show Support
The value of Facebook isn't really a political matter, but there was still a large political gap, particularly between progressives and libertarians. Progressives were split, which is pretty supportive relative to the overall, while hardly any libertarians agreed with the estimate (8%). The liberal-conservative difference was similar, but not nearly as pronounced.
If you'd like to vote on this question, dig deeper into the demographics, or engage in existing discussion about the topic, visit our original poll about Facebook's IPO. We'd love to hear from you!
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