Group of Florida seniors plans to invest in Facebook

The big news in the world of social media this week is the launch of Facebook as a publicly-traded company with its’s IPO (Initial Public Offering). Facebook, the world’s largest social media company, is expected to be officially worth more than 100 billion dollars (US).

Many of the investors are expected to be bankers and other financial professionals, but as reported recently on CNN, a group of seniors at a Florida retirement home are hoping to get in on the action too.

Alvan Sweet, a 79 year-old resident of an assisted living community in Boynton Beach, Florida, told CNN that he has tried to convince his friends and fellow residents to invest in companies in the past, but to little success. But now, things are totally reversed. Sweet’s friends are sold on the idea, but he’s not.

“Now all of a sudden, they're very aggressively pushing me to do something to help them invest in the Facebook IPO,” he said.
One of the reasons for the increased interest, Sweet said, is because many of his friends are users on Facebook, and although they may not be financial experts, they know what Facebook is, what it does, and why it is so popular.