Facebook IPO Daily News - Declaring that Facebook was built to be not just a company but also to "accomplish a social mission," the idealistic young creator of the world's largest online social network launched what will be the biggest Internet IPO in Silicon Valley history Wednesday, as the Menlo Park-based company revealed the long-secret details of its business for the first time.
The projected $5 billion initial public offering was only half the size many analysts had been expecting, but represents the official start of Silicon Valley's most widely anticipated stock offering in nearly a decade. The IPO filing also marked a continental divide for Facebook, between its birth as a wildly successful startup, and its future as one of the valley's corporate giants.
Facebook in its IPO filing revealed that it now has 845 million users, nearly half the world's Internet users. And it reported $1 billion in profits on $3.7 billion in revenue last year, making a company once derided for having no business plan one of the Valley's top profit machines.
Industry sources expect the stock offering will set Facebook's overall value at $75 billion to $100 billion. The papers filed Wednesday do not specify how many shares will be sold, their offering price, or the date they will be offered; the company is expected to release more details in coming weeks.
continue reading => Facebook IPO filing reveals first look at company's finances
The projected $5 billion initial public offering was only half the size many analysts had been expecting, but represents the official start of Silicon Valley's most widely anticipated stock offering in nearly a decade. The IPO filing also marked a continental divide for Facebook, between its birth as a wildly successful startup, and its future as one of the valley's corporate giants.
Facebook in its IPO filing revealed that it now has 845 million users, nearly half the world's Internet users. And it reported $1 billion in profits on $3.7 billion in revenue last year, making a company once derided for having no business plan one of the Valley's top profit machines.
Industry sources expect the stock offering will set Facebook's overall value at $75 billion to $100 billion. The papers filed Wednesday do not specify how many shares will be sold, their offering price, or the date they will be offered; the company is expected to release more details in coming weeks.
continue reading => Facebook IPO filing reveals first look at company's finances
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