Software and services company
is set to ride the Facebook wave, according to CEO Michael Scissons, who sees the IPO as a positive. "It brings more attention to our market," he said. "We offer software and services that make marketers successful on social media - for example, if a brand has 100 Facebook pages and 20
pages, they use our software to manage customer relationships."
For Ken Xie, the CEO of security specialist
(FTNT - Get Report)
, Facebook's offering marks an important milestone for Silicon Valley.
"The IPO validates that the Internet is entering into a new stage of connecting everybody together," he said, but warned that Facebook's growth also brings fresh challenges for the tech giant. "There's a risk of a social engineering attack - Facebook holds a lot of information today, and that can be a target."
Facebook's popularity can't be doubted. Web information company
, which rates the world's top 500 sites, ranks the social networker no. 2, behind
, but ahead of
It's hardly surprising, then, that Facebook's offering has garnered so much
After months of speculation, the social networking phenomenon finally
its IPO at $38 a share after market close on Thursday. At $38 a share, the offering will raise more than $16 billion and will give Facebook a valuation of $104 billion.
Amidst all the Facebook brouhaha, though, Bob Beauchamp, the CEO of
, voiced his concern about valuations for early-stage companies.
"I think we're getting close to 1999 again in some of the startup valuations," he told
. "I'm not speaking specifically to Facebook, but there's definitely a dot.com bubble that's growing - some of the valuations are reminiscent of 1999."
Set against this backdrop, Beauchamp explained that BMC has held back from some recent acquisitions. "There's some companies out there that we might be interested in acquiring, but, based on valuations, we're going to sit back and wait for it to pop," he said.
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Written by James Rogers in New York.
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