Facebook shares open at $42.05, an 11% increase from the companys $38 IPO price.
Facebooks IPO, the third largest in U.S. history, is on track to raise $16 billion and give the company a valuation as high as $107 billion.
Founder Mark Zuckerberg raised $1.1 billion in the offering and holds a remaining stake worth around $19.1 billion.
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