Facebook's honeymoon appears to be over as the company is losing key employees and has settled almost 50 percent below the stock's original target price.
Facebook shares are trading these days around $21, significantly below the $38 offering price and below the $40+ many analysts originally expected. The company's market cap is far from the frequently discussed $100 billion. It has now settled around $45 billion, give or take a few hundred thousand dollars. For Zuckerberg, that means that he is now battling James Goodnight, co-founder of SAS Institute Inc., for tenth place of Forbes' richest people list. Zuckerberg and Goodnight both have a fortune of about $10.6 billion at this time.
Facebook is also dealing with an exodus of several critical employees. Following the IPO, Facebook has lost product management director Carl Sjogreen, CTO Bret Taylor, mobile platform marketing manager Jonathan Matus, as well as director of platform marketing Katie Mitic, and director of platform partnerships Ethan Beard.