The Silicon Valley giant launchces one of the biggest tech IPOs ever.

What We Don't Know About the FB IPO

There's a lot that's not known about the Facebook IPO launching on Friday

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    NEWSLETTERS

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    Sheryl Sandberg of Facebook says her company going public will mean more jobs. (Photo by Nadine Rupp/Getty Images)

    For all the information you've read in the last few days (all of which include the key words "Harvard dorm room" and "hoodie") there are still things we supposed experts don't yet know.

    1.  What's the plan for tomorrow?

    We have every expectation that Mark Zuckerberg will open the NASDAQ Marketplace from Facebook headquarters in Menlo Park.  There is an enormous metal stage in the central courtyard.  However NASDAQ, which is normally very helpful with reporters, is being tightlipped about Friday's plans.

    2.  What's the price?

    Facebook will price its shares later this afternoon.  Note these are the shares rich investors and banks buy - they get them at between $34 to$38 (though we've heard rumors of higher) and then sell them to the you.  You can't buy until trading on the secondary market begins.

    3.  Who is really in charge?

    Facebook has two chiefs, notes David Weidner at the Wall Street Journal.  Mark Zuckerberg is the founder, but Cheryl Sandberg seems to run day to day operations.  And remember: she used to be chief of staff at the US Department of Treasury.  No hoodie on her.

    4.   What about mobile?

    Facebook isn't very good at making money, points out Miguel Helft and Jessi Hempel.   It's just so big, you don't notice.  The money that comes in is largely from advertising to Facebook users on traditional computers.  It has not succeeded in advertising on mobile. 

     Remember Scott McGrew's Second Rule of Facebook:  No one has figured out mobile, not even Google or Apple.