Initial public offerings (IPOs) fell sharply in the second quarter because of Facebook Inc.’s disappointing public debut, according to new data from the National Venture Capital Association (NVCA) and Thomson Reuters, Reuters reported.

Though Facebook’s $16 billion offering made the second quarter the strongest period on record in terms of dollars raised, the number of deals fell by 50 percent to 11 in the quarter versus the same quarter last year, Reuters said.

“There’s no question that the psychological fallout from the Facebook IPO, coupled with economic uncertainty in Europe, put a chill on the public markets for most of the second quarter,” said Mark Heesen, president of NVCA.

Facebook, one of the most closely watched and highly anticipated companies to go public, fell flat with its initial public offering after investors questioned its ability to rapidly grow advertising revenue and after technical glitches on the Nasdaq stock market. Its shares are trading below its $38 offering price. The stock closed at $31.10 on June 29.

Heesen said the year could turn out strong because of the number of venture-backed mergers and acquisitions deals, which are up 61 percent from the first quarter, that could go public.

For the second quarter, eight of the 11 companies that went public listed on the Nasdaq and the remainder listed on the New York Stock Exchange, Reuters said.