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Facebook is updating its status to 'public company' as its stock jumps in its debut on the Nasdaq stock market.

The stock rose to $US42.05 on Friday morning. CEO Mark Zuckerberg smiled as he rang the opening bell from Facebook's headquarters in Menlo Park, California. Surrounded by cheering Facebook employees and wearing his signature hoodie, the 28-year-old pushed the button that signals the opening of the stock market in New York.

On Thursday, Facebook and the investment bankers arranging the initial public offering (IPO) settled on a price of $US38 per share. The company and its early investors raised $US16 billion ($A16.23 billion) in the offering, which valued Facebook at $US104 billion. That makes Facebook the most valuable US company to go public.

Now, the stock market will assign a dollar value to Facebook that will rise and fall with investor whims. It will be subject to broad economic forces as well as how much profit it earns from one quarter to the next.

But Facebook is one of the rare companies whose IPO transcends Wall Street's money lust to become a cultural touchstone for the way technology is reshaping our lives. Since its start as a scrappy network for college students, Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.

It has done so while managing to become one of the few profitable internet companies to go public recently. It had net income of $US205 million in the first three months of 2012, on revenue of $US1.06 billion. In all of 2011, it earned $US1 billion, up from $US606 million a year earlier. That's a far cry from 2007, when it posted a net loss of $US138 million and revenue of $US153 million. The company makes most of its money from advertising. It also takes a cut from the money people spend on virtual items in Facebook games such as FarmVille.

Facebook's public debut marks a new milestone in the history of the internet - and the people who use it. In 1995, Netscape Communications' IPO gave people their first chance to invest in a company whose graphical web browser made the internet more engaging and easier to navigate. Its hotly anticipated IPO lit the fuse that ignited the dot-com boom and culminated five years later in a devastating bust that obliterated the notion that the internet had somehow hatched a new economy where making money no longer mattered.

It took Google Inc's IPO in 2004 to prove just how profitable a well-run internet company with a disruptive idea can be. In the process, the internet search leader has forced other industries to adapt to a new order where people have come to expect to be able to find just about anything they want by entering a few words into a box on any device with an internet connection.

Facebook's IPO underscores an internet evolution that has made the understanding of connections among people as important as Google's massive index of Web links. Now that Facebook will be under greater pressure to sell more advertising to bring in more revenue, this IPO also cast a brighter light on how just how much revealing information that people have been sharing the past few years without fully understanding the implications.

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NEW YORK (CNNMoney) -- Stocks closed out an ugly week. Despite initial euphoria surrounding Facebook's public debut, the social network's shares barely popped above its offering price and failed to inspire investors to buy into the broader market.

All three indexes clocked their worst weekly losses of the year, finishing at the lowest levels since January.

U.S. investors focused on the global issues plaguing world markets Friday, which pushed stocks down for the third straight week.

On Friday, the Dow Jones industrial average (INDU) lost 73 points, or 0.6%. The index is down 3.5% for the week.

The S&P 500 (SPX) slipped 10 points, or 0.7%, and 4.3% for the week. The Nasdaq (COMP) fell 35 points, or 1.2% Friday and 5.3% for the week.

Facebook (FB), which priced its initial public offering at $38 a share after the closing bell Thursday, jumped 11% when it started trading mid-morning Friday, but closed just above break even line.

"People are talking about Facebook, but it's really a sideshow," said Win Thin, an emerging market strategist for Brown Brothers Harriman. "If Europe blows up, people will trade on that more than anything else."

The European debt crisis loomed over global markets. Asian stocks sold off sharply, based partly on the slowdown in the Chinese economy. European markets were also under pressure, and borrowing costs for Spanish and Greek debt remain high.

Concerns are mounting about a potential Greek exit from the euro, and the implications that it could have for other fiscally troubled nations such as Spain and Italy. Rating agency Moody's downgraded 16 Spanish banks Thursday, including giants Banco Santander (STD) and BBVA (BBVA), the latest sign of distress in Europe.

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Stocks: Worst week of the year

NEW YORK, NY--(Marketwire -05/18/12)- China's internet stocks have posted mixed results recently as government restrictions, high costs, and a shift to mobile devices have made it difficult for companies to tap into the nation's vast online market. It is estimated that only 37.7 percent of China is online according to the China Internet Network Information Center (CINIC). Five Star Equities examines the outlook for companies in China's Internet Sector and provides equity research on SINA Corporation (SINA) and Renren Inc. (RENN).

Access to the full company reports can be found at:

http://www.FiveStarEquities.com/SINA http://www.FiveStarEquities.com/RENN

China currently has more than 500 million internet users. China's internet growth has lagged in recent years, 55.8 million users were still added in 2011, according to the CINIC. Estimates from eMarketer, a digital-marketing research firm, projects that online advertising revenue is projected to grow from $4.6 billion in 2011 to $9.5 billion in 2014. With tight restrictions from the government and growing competition, internet companies have struggled to turn users into reliable sources of revenue.

"A lot of these problems are coming from the fact that most of these firms are still figuring out what the ultimate business model is going to be," said David Wolf, chief executive of Wolf Group Asia. In regards to slowing internet user growth, he added, "It will be about who has the deeper pockets and who is going to be able to evolve their service to keep users. We are looking at more spending before we see more revenue."

Five Star Equities releases regular market updates on China's Internet Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at http://www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.

SINA Corporation, a leading online media company serving China and the global Chinese communities, earlier this week announced its unaudited financial results for the first quarter ended March 31, 2012. Despite reporting a net loss for the first quarter of 2012 of $13.7 million, compared to a net income of $15 million for first quarter 2011, shares of the company jumped over 11 percent Wednesday.

Renren operates the leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. The company recently reported an operating loss of $20.6 million for first quarter 2012, compared to a loss of $4.7 million in first quarter 2011.

Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.FiveStarEquities.com/disclaimer

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Shares of SINA and Renren Spike Despite Reporting Losses

LONDON--(BUSINESS WIRE)--

Today, notonthehighstreet.com, the award-winning online marketplace, announced a Series D investment of 10m led by international investors Fidelity Growth Partners Europe (FGPE) and supported by previous investors, Index Ventures and Greylock Partners.

Notonthehighstreet.com offers curated collections of original and inspiring products from the best small creative businesses. Now in its sixth year, the company has grown its initial network of 95 small business partners to over 3,000 who sell over 50,000 products between them.

This fourth round of investment will allow notonthehighstreet.com to continue growing its offering and brand whilst investing in technology to remain at the forefront of innovation. Having recently launched multi-currency functionality, the investment is a vital step in enabling notonthehighstreet.com to reach consumers globally whilst also exploding the growth of the company in the UK. The growing consumer trend of rejecting the generic and mass produced continues to be matched by the companys plans to expand internationally with its curated offering of high quality unique products.

Holly Tucker, CEO and co-founder of notonthehighstreet.com said of the investment:

We are thrilled to be working with FGPE which has over 40 years of experience supporting businesses such as ours to help provide the expertise, resources and connections required to take us to the next level. With them, we will expand the opportunities in the UK by supporting more talented small UK businesses and so becoming the number one destination for original, thoughtful products which celebrate what matters to an individual."

Davor Hebel, partner at FGPE, commented: In a few short years notonthehighstreet.com has successfully reached a significant portion of the UK population through its unique gift offering.The companys phenomenal success to date is reflected in its outstanding performance and the many industry awards it has won. We are very excited to be part of the next phase of the companys journey as it looks to transform the global gifting market.

Davor Hebel from FGPE and Laurel Bowden from Greylock Partners will join the board of notonthehighstreet.com.

Ends

Note to Editors:Holly Tucker, Sophie Cornish and Davor Hebel are available for interview.

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Fidelity Growth Partners Europe Leads a £10m Investment in Online Marketplace notonthehighstreet.com

by Ronnie Teo, ronnieteo@theborneopost.com. Posted on May 19, 2012, Saturday

KUCHING: Kuala Lumpur-based property developer Suez Domain Sdn Bhd (Suez Domain) is offering the corporate office towers of its upcoming project, KL Gateway, to Sarawakians.

During its roadshow organised by its exclusive marketing partner Borneo Real Estate, Suez Domain general manager of retail, Benjamin Leong, outlined the groups expectations for Sarawakian investors to partake in this project, slated to be completed by 2016.

I believe that the Sarawak market is very discerning, he told The Borneo Post.

Sarawakians are also very strong investment people in terms of investment styles.

We feel that our product will provide them an opportunity to establish some presence in the peninsula, especially in Kuala Lumpur at a very prime location.

Leong added that its packages at the premium floors were very competitive, translating to a beneficial price point and would add to the investors portfolios without hesitation.

He noted that the KL Gateway project held a gross development value of RM1.7 billion spanning over 7.18 acres and consisting of four sections: Corporate Office Towers, Boutique Retail, Serviced Suites and Managed Service Suites.

KL Gateway is located along the Federal Highway and is connected to other major motorways such as the Sprint Highway/Kerinchi Link and the New Pantai Expressway.

The property is envisioned to be a peaceful oasis in the heart of KL with an outdoor courtyard surrounded by a series of garden spaces designed to be a public room that will attract people from the surrounding neighbourhoods.

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Suez Domain offers KL Gateway office towers to Sarawak market