Shares of Facebook (Nasdaq: FB), the No. 1 social network, are up six cents to $32.06 in late morning trading on Thursday. That boosts the value of the Menlo Park, Calif.-based website with 901 million members back to $68.5 billion.
A week ago, they were priced at $38 by underwriters Morgan Stanley (NYSE: MS), JPMorgan Chase (NYSE: JPM) and Goldman Sachs (NYSE: GS), with another 30 other managers. Then the company was valued at $105 billion, the richest initial public offering by a technology ompany.
Facebook raised $16 billion in the IPO, filings with the U.S. Securities and Exchange Commission show. Insiders such as CEO Mark Zuckerberg netted $9 billion even before the shares were sold to the public on Friday.