Going Public Made Facebook a Much Better Company

It's easy to forget how sky-high expectations were for the Facebook IPO. The day before the company went public, some investors reasonably assumed that by the close of the market, Facebook would be worth $140 billion since the average first-day pop for tech companies was 32% Forbes also urged investors to "Buy Early And Buy As Much As You Can." A poll of 800 people determined that Facebook would close at $55 on its first day as a public company, putting it in that ethereal $140 billion range. A ...