TechnesstivityFacebook Files For IPO, Hopes To Raise $5 Billion
Facebook has filed a preliminary prospectus for its Initial Public Offering. Facebook hopes to raise $5 Billion and if this happens, it’ll go down as one of the most successful tech IPOs in history. The shares will be available on the Stock Exchange by May.
Lead underwriters are Morgan Stanley with Goldman Sachs and J.P. Morgan and others to take secondary positions.
CHECKOUT: Facebook: From Creation To IPO [INFOGRAPHIC]
Here are a few facts from Facebook’s filing.
- Zynga accounts for 12% of Facebook’s revenue.
- In the last quarter of 2011, Facebook had an average of 2.7 Billion likes and comments each day.
- Mark Zuckerberg owns 28.2% of Facebook and controls 30.6% of voting shares via proxy. Market analysts say Facebook’s now worth $100 Billion. This makes Mark Zuckerberg’s worth $28.2 billion
- Accel Partners own 11.4% of Facebook, co-founder Dustin Moskovitz 7.6%, Digital Sky Technologies 5.4% and Peter Thiel 2.5%.
- In 2009 Facebook’s revenue was $777 Million. Revenue stood at $1.97 Billion in 2010 and $3.71 Billion in 2011.
- COO Sheryl Sandberg earns an annual salary of $ 300,000 as well as CFO David Ebersman. Mark Zuckerberg earns $500,000.
- From January 1st, 2013, Mark Zuckerberg will begin to collect an annual salary of $1
- Facebook had 845 million monthly active users as of December 2011 and an average of 483 million daily users in the same month.
- 250 Billion photos are uploaded each day within Facebook’s 100 Billion friendship connections.
Facebook also explained in the filing that it is not a normal company and wasn’t set up for financial gain. It was setup to make the world more social and open. Facebook also says that it expects its user growth rate to decline in a few years and since 83% of its revenue is from advertising, if usage of Facebook drops, revenue will also drop.
The company also says it doesn’t get a lot of revenue from mobile apps and is hoping to figure out a way to include ads in the News Feed on mobile devices.
For all our legal geeks out there, here’s a copy of Facebook’s S1 Filing
