Facebook valued at US$104 bn

Facebook starts trading later today in the US with an opening price of US$38, valuing the company at an astonishing US$104 billion. 

Mere millionaires will be created by the hundred with a smattering of billionaires also that include U2's Bono, who through his investment vehicle, Elevation Partners, owns 2.3% of Face book from 2009 and makes him a billionaire either side of the pond.

With over 900 million participants, the share base should be scattered far and wide but there is a great deal of concern around that the valuation is too high and the company will find it difficult to monetise Facebook sufficiently to sustain the initial valuation.

However if Bono decides to opt out I am sure Facebook would carry on with or without him.