Houston, we have a problem Pictures Houston, we have a problem Facebook's May 18, 2012, IPO, which valued the company at a whopping $104 billion, was more than just a stock offering -- it grew into a cultural and financial phenomenon. But as launches go, this one was a misfire. A software glitch at Nasdaq delayed the IPO by 30 minutes. Worse, investor demand underwhelmed. After pricing at $38, Facebook shares barely got off the ground to close at $38.23. The biggest, baddest IPO since Google's 2004 offering was officially a dud. Credit: Spencer Platt/Getty Images