Filed under: Google , Facebook Facebook has taken a key step toward selling itself to public investors. Although the world’s largest social network insists that the move doesn’t mean the company is planning to go public, it’s clearly designed to allow the current owners to maintain control of Facebook if it does go for an initial public offering. Founded in 2004 in a Harvard dorm room, Facebook has been valued as high as $20 billion during the go-go years of the Web 2.0 bubble. Since the financial meltdown and recession, that valuation has dropped below $5 billion and hasn’t been able to break $10 billion. Continue reading Facebook creates a dual stock structure, but denies that it ’signals’ an IPO Facebook creates a dual stock structure, but denies that it ’signals’ an IPO originally appeared on DailyFinance on Tue, 24 Nov 2009 17:20:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

Excerpt from: 
Facebook creates a dual stock structure, but denies that it ’signals’ an IPO

Filed under: Company News , Economy , Citigroup On February 8, 1950 , Frank McNamara and Ralph Schneider finished their dinner at Major’s Cabin Grill in New York and did something that had never been done: they paid with a charge card. The two men, along with colleague Matty Simmons, were the creators of Diners Club, the first charge card that could be used at multiple restaurants and retailers. Like their later competitor American Express ( AXP ), Diners Club balances had to be paid in full at the end of the month, but the ease of credit purchases opened the door to innovations like credit cards. Now, almost 60 years later, the trailblazer for America’s credit industry is leaving the country . Citigroup ( C ), which bought Diners Club in 1981, has announced plans to sell the company’s North American operations to the Bank of Montreal ( BMO ). It has already gotten rid of worldwide operations, having sold them to Discover ( DFS ) last year. Continue reading Diners Club leaves Citi and the country, finding a new home in Canada Diners Club leaves Citi and the country, finding a new home in Canada originally appeared on DailyFinance on Tue, 24 Nov 2009 17:40:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

View original here: 
Diners Club leaves Citi and the country, finding a new home in Canada