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February 1, 2012

Facebook files for IPO, seeks to raise $5 billion

At 4:47 p.m. today, Facebook Inc. filed its S-1 registration statement as it seeks to go public and raise $5 billion.

Some key facts: from the filing:

* The Web 2.0 company has 845 million monthly active users. It had revenues last year of $3.7 billion, compared to $1.9 billion in 2010.

* It had a profit last year of $1 billion last year, compared to $606 million in 2010.

* Facebook has $3.9 billion in cash in the bank.

* Founder Mark Zuckerberg controls 36 percent of Class A shares. Baltimore's T. Rowe Price Group, a mutual funds investor, holds 5.2 percent of shares.

* Here's a monster number: 483 million daily active users (DAUs) on average in December 2011, an increase of 48% as compared to 327 million DAUs in December 2010.

* Zyngaville! Facebook says its relationship with Zynga accounted for 12 percent of its revenues. A healthy amount, but not surprising.

* The filing says Facebook plans to list its stock either on the Nasdaq or the New York Stock Exchange (You mean they haven't decided yet?)

* VERY interesting: Because Zuckerberg controls so many shares, the company is "not required to have a majority of our board of directors be independent, nor are we required to have a compensation committee or an independent nominating function."

* Total cost and expenses for running Facebook quadrupled to nearly $2 billion in 2011, from $515 million in 2009.

* Here's a chart of Facebook's history, from the filing:


facebook-history-chart.PNG


This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
Posted by Gus Sentementes at 4:54 PM | | Comments (0)
Categories: *NEWS*, Entrepreneurs & Risk Takers, Social Media, West Coast
        

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About Gus G. Sentementes
Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.
This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
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