Website Allows Users to Predict Facebook’s IPO Closing PriceBy: Mike Fossum - May 18, 2012
Facebook kicked off its IPO today, hoping to raise roughly $16 billion, with a valuation of $104 billion. A new site called Facebookipodayclosingprice allows users to make their own predictions regarding the price of Facebook stock by the closing bell at the end of the day. A user can sign into the site via Twitter, and make a bet:
According to The Next Web, the site was quickly thrown together by James Proud, in response to a Tweet by noted investor Chris Sacca:
A quick hack from @jamesproud inspired by @sacca‘s tweet. I thought it’d be cool to know and build. Quickly knocked together with Python, Tornado, Postgres, Redis, Heroku, no sleep and Bootstrap.
Sacca himself endorses the site, and predicts $56 a share, valuing Facebook at $140,745,424,456.
After a sampling of some of the bets on the site, the lowest was $32 and the highest was $76. My bet sits in the middle of the road – for more news on Facebook’s IPO, go here.