CEO Mark Zuckerberg is seen on a screen televised from Facebook headquarters in Menlo Park, Calif., moments after the company’s IPO launch in New York, May 18, 2012. Facebook became the third-largest IPO in U.S. history and the largest U.S. tech IPO as it raised $16 billion. The social networking behemoth suffered a brutal first day of trading, closing at $34.03, well below the company’s initial offering price of $38. On July 26, Facebook reported its first earnings since going public. It met expectations but failed to convince investors that the social network had found a business model that would make it an enduring powerhouse. After its second-quarter performance was unveiled, shares sank 11 percent, reaching their lowest since the company’s IPO. The stock closed at $26.85, down 29 percent from its IPO price.