Facebook Aims for Smooth Opening

    An advertisement for San Jose International Airport suggests to users to "like" the airport's Facebook page, at the airport in San Jose California, May 15, 2012.  Studies have found that users spend far more time with the mobile version of Facebook?s network than they do on the browser version, but raising advertising revenues from the mobile platform has proven more difficult than for the desktop version.   Facebook, the world's most popular internet social network, expects to raise USD 12.1 billion in what will be Silicon Valley's largest-ever initial public offering (IPO) later this week.   AFP PHOTO / ROBYN BECK        (Photo credit should read ROBYN BECK/AFP/GettyImages)

    Robyn Beck, AFP / Getty Images

    No pressure, Mark Zuckerberg! Wall Street insiders are closely tracking the nation’s biggest Web IPO offering ever—Facebook—making sure things go well on day one of its trading. The third-biggest IPO was made official Thursday when the company announced it had raised $16 billion in funding to seek a $38 share price, giving the Silicon Valley leader a $104 billion valuation. "It has to go off without a hitch. There's going to be a lot of visibility on this," said Larry Tabb, CEO of a consulting and research firm. "If this goes poorly, it will not just be a poor reflection on NASDAQ—it will be a poor reflection on the U.S. market structure." Facebook shares are scheduled to begin trading at 11 a.m. EST, 90 minutes after the stock exchange opens, giving brokerage firms enough time to process what is anticipated to be an enormous amount of opening-day orders.

    Read it at The Los Angeles Times