This view is actually false. I should probably respond to a more visible comment but this will have to suffice.
The winners in the IPO, and this has been said before (not just by me), is facebook and zuckerberg. The losers are the underwriters and their clients who the underwriters placed the stock with (and now, the rest of the retail investment market).
Typically an IPO is priced such that 'insiders' are getting a better deal than the retail investors will have when supply starts to open up. This IPO, that methodology was reversed. It was a huge stock->cash dump, and will benefit $FB near term because they have some 20+bn in cash now, but probably ruin them long term because of the reputation hit they took, and the prevailing view that their stock is worthless.
TL;DR; facebook screwed wallstreet more than it got screwed by wallstreet.
