Bookie posts odds on Facebook float

Bookmaker Tom Waterhouse has posted odds for the amount of money Facebook's float will fetch.

By now you know that Facebook will soon float, making him rich enough to buy every one of his favorite Red Vine candies.

But of course any initial pubilc offering has an uncertain outcome. No-one knows just what the shares will do once they hit the open market.

Bookmaker Tom Waterhouse, MD of an eponymous online betting shop, reckons his extensive use of social media makes him qualified to make a guess.

“Google’s share price rose 18% on its first day of trading in August 2004 to value the company at just over USD27 billion," he's told the world in a press release. "I’m tipping Facebook to blow its rival’s numbers out of the water and for its market capitalisation to exceed USD100 billion when the closing bell rings to end its first day."

Let's not forget that Google launched at a time when many fewer people used the Internet and its potential for making lots of money was less proven, which may just contribute to Facebook's higher valuation.

One prediction we're willing to make at My Business is that Facebook's float will produce lots more silly stories - including this one - than Google's stock market debut.

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