Facebook files for highly anticipated IPO, revealing financial information

Facebook has submitted paperwork to hold a $US5 billion stock offering

Facebook filed papers Wednesday to become a public company, revealing financial information that attests to the social network's phenomenal growth.

The IPO is the most anticipated public offering in a decade, with the company looking to bring in $US5 billion in investment.

Morgan Stanley, J.P. Morgan, Goldman Sachs and three other financial firms are underwriting the deal, according to papers filed with the US Securities and Exchange Commission.

The publicly available version of the SEC filing does not give a proposed date for the IPO. Facebook has not yet released its expectations for the initial stock price.

The company had revenue of $US3.7 billion in 2011, compared to $US2 billion in 2010, according to the filing documents. Net income was $US1 billion in 2011, compared to $US606 million in 2010. The company had $US777 million in revenue in 2009, with net income of $229 million.

Iconoclastic CEO Mark Zuckerberg founded Facebook from his Harvard dorm room in 2004. The social networking site passed the 100 million user mark in 2008 and now has 845 million users. The site had 483 million daily active users on average in December, compared to 327 million in December 2010, the company told the SEC.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Brand Post

Bitdefender 2018

With determination and drive, you achieve outstanding performance! Get Bitdefender Total Security 2018 Now!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?