Facebook chief executive Mark Zuckerberg will be selling 41.4 million shares worth $2.3 billion as part of Facebook's follow-on offering of 70 million shares. The said stock offering is worth a total of $3.9 billion.

Facebook chief financial officer David Ebersman early this week sold 532,400 shares in the social networking company at an average price of $50 per share. Ebersman reportedly raised $26.2 million in the deal.

Kumar Rangaranjan, one of the founders of Indian startup Little Eye Labs, told the Wall Street Journal that it was in preliminary discussions with social media giant Facebook regarding a potential deal.

Singaporean investment firm Temasek divested its holdings in US-listed companies Facebook, Monsanto and Air Products & Chemicals. The private equity firm, however, remains focused on energy, healthcare and technology stocks in the US.

The following bids, mergers, acquisitions and disposals were reported on Wednesday including BNP Paribas, Facebook, Crocs, VTB Capital and Flybe Group.

Mobile advertising revenues would play a huge role in Facebook's continued favor with investors, a Reuters report said.

Fund managers said they were optimistic about Twitter's upcoming debut. Institutional investors expressed confidence about the initial public offering of social media company Twitter Inc.

Rivalry between Google Inc and Facebook Inc seemed to have thawed after the former announced its partnership with the latter on aiding clients to purchase ad inventory.

Investors might not had been receptive of Facebook Inc's acquisition of Israeli mobile data analytics firm Onavo as stocks of the social media fell 1.5% in pre-market trading today.

Facebook Inc. had agreed to buy Onavo, an Israeli startup app-maker company, said a report from Reuters.