[sparknlaunch12]

So if we apply industry standard valuation techniques, tested against an existing listed tech company Facebook is valued at $13.80. Why did everyone buy it at more than double the price? Ouch.

[rjtavares]

Basing a valuation on IPO statistics is not an industry standard valuation technique. For an industry standard valuation technique, check Damodaran's analysis made well before the IPO: (http://www.aswathdamodaran.blogspot.pt/2012/02/ipo-of-decade...)

His price was $28.