Did Facebook's IPO face any delays or setbacks?

Facebook's IPO did not face any significant delays, but it did encounter some setbacks and challenges in the lead-up to its public offering.

One notable setback was the technical issues experienced by the NASDAQ stock exchange on the day of Facebook's IPO. The high volume of trading activity overwhelmed NASDAQ's systems, leading to delays in order confirmations and other trading disruptions. This resulted in confusion and frustration among investors and led to criticism of both NASDAQ and Facebook for their handling of the IPO.

Additionally, there were concerns about Facebook's valuation leading up to the IPO. Some analysts questioned whether the company's high valuation was justified, particularly given uncertainties about its ability to effectively monetize its user base, especially on mobile platforms.

Despite these challenges, Facebook's IPO ultimately went forward as planned on May 18, 2012. While there were some initial hiccups and criticism, the IPO was still one of the largest in history at the time, and Facebook's stock debuted strongly, although it experienced volatility in the months following its public listing.

While Facebook's IPO itself didn't face significant delays, it did encounter some setbacks and challenges leading up to and during the offering:

1. **Technical Issues:** On the day of Facebook's IPO, technical glitches and delays plagued the NASDAQ stock exchange, where Facebook shares were listed. These issues led to delays in order confirmations and caused confusion and frustration among investors and traders.

2. **Revised Financial Forecasts:** In the weeks leading up to its IPO, Facebook revised its financial forecasts, acknowledging challenges in monetizing its growing mobile user base. This raised concerns among investors about the company's revenue growth potential and led to increased scrutiny of its business prospects.

3. **Regulatory Scrutiny:** Facebook faced scrutiny from regulatory authorities, including the U.S. Securities and Exchange Commission (SEC), over its pre-IPO disclosures and communications with investors. This scrutiny resulted in regulatory investigations and legal challenges, which added to the complexity and uncertainty surrounding the IPO.

4. **Legal Challenges:** In the days following its IPO, Facebook and its underwriters faced lawsuits from investors alleging securities fraud and misrepresentation of financial information. These legal challenges added to the negative sentiment surrounding the offering and contributed to volatility in Facebook's stock price.

5. **Stock Price Performance:** Despite high expectations leading up to its IPO, Facebook's stock price struggled in the weeks following the offering. The stock initially dropped below its IPO price, leading to losses for early investors and raising questions about the company's valuation and growth prospects.

Overall, while Facebook's IPO was ultimately completed as planned, it faced several setbacks and challenges that impacted investor confidence and contributed to volatility in the company's stock price in the days and weeks following the offering.