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Social networking website valued at $104 billion

Facebook to float on Stock Exchange today

Facebook is set to be floated on the Nadaqw stock exchange later today as the social networking site becomes the third largest initial public offering in US history.

According to VentureBeat, with the company valued at $104 billion, this IPO places it only behind General Motors and Visa and is the largest ever for a tech company.

Priced at $38 per share, the stock is due to start trading later today, and will give the company’s founder, Mark Zuckerberg, a net worth of approximately $20 billion, and will make on of its most famous investors, Bono of the rock band U2, a billionaire too.

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