Remember when Blackstone (NYSE: BX) was touted as “the biggest IPO since Google” and it’s been falling every since it’s debut, and VMWare (NYSE: VMW) turned out to be a the hot item instead? Good times those were. And now we can’t go a day without hearing some rumor of Facebook going public, or being bought out (which isn’t likely). Now there is an IPO I would cash in on, I missed out a Google being broke at the time, but that will not (hopefully) be the case if Facebook goes public.
Facebook is currently well on it’s way to 60 million users by the end of this year and has also recently received bona fide status as a social phenomenon in the form of a lawsuit by two of Mark Zuckerburg’s former classmates, claiming he stole their idea. They are suing him for fraud, copyright infringement and misappropriation of trade secrets… brilliant! Cameron and Tyler Winklevoss the twin brothers behind the lawsuit are the founders of the lesser known social networking site ConnectU.
Lawsuit aside, Facebook is paving the way for potentially amazing performance if/when it goes public. Another rival of Facebook, Classmates.com is readying for its own IPO which may be the push other social networking sites need to get them to go public.
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