Facebook IPO kicks off; Pinterest gets additional funding

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Menlo Park, Calif.—Facebook Inc. debuted as a public company today, with sale of its stock expected to raise $18 billion or more in one of the largest initial public stock offerings in history. With 900 million users worldwide, the company's advertising model is evolving. This year it introduced a means of extending the distribution of ads to gain more impressions, added mobile advertising for the first time and provided a way for companies to post daily deals. The company had sales of $3.2 billion last year. Photo-sharing site Pinterest raised $100 million Thursday in a financing round led by Rakuten Inc., a Japanese e-commerce company whose U.S. holdings include Inc. This third financing round for Pinterest—the third most popular social network, behind Facebook and Twitter, according to Experian—raised its total underwriting to $137.5 million.
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