[jonknee]

That 25% of the company has changed hands in 20 minutes.

[ABS]

25% of the shares offered, not of the company

[etrain]

Nope 2.8b is total shares outstanding. $38*2.8b or roughly 100b ~= facebooks current valuation. That said, I'm pretty sure the volume info included the offering of 10% of the company.