Facebook Is Going To Sell 41.5 Million Shares Worth $2.3 Billion


Top Social network website Facebook Is Going To Sell 41.5 Million Shares Worth $2.3 Billion due to tax reason.

“We do not currently have any specific uses of the net proceeds planned, We may use a portion of the proceeds to us for acquisitions of complementary businesses, technologies or other assets.”
Facebook said in the statement.
 
27 million shares will be offered by Facebook and 43 million shares are being sold by others stockholders also including  Mark Zuckerberg
41.5 million shares.

Whereas its cleared in Security & Exchange commission SEC unveals

Also Facebook is testing a new way to watch promoted videos in news feed. You can watch videos without having to click or tap play, videos come to life in News Feed and start playing without sound. Through the course of this test, we’ve seen a more than 10% increase in people watching, liking, sharing and commenting on videos. It’s a better experience for people and it’s leading to increased engagement. 

Facebook Current Stocks by Nasdaq



Source: Facebook , Reuters , Bloomberg

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About Priyanshu

A Social Media and Cyber Security Expert. Love to write about latest technology and Gadgets.