Facebook files for IPO, seeks to raise $5 billion
Facebook has today filed for IPO. The process is being underwritten by Morgan Stanley and Goldman Sachs amongst others. Facebook will be trading under the stock symbol “FB” and says that it will seek to raise $5 billion and be valued at around $100 billion. When the stock lands on the open market, the company will be valued somewhere around $100 after taking account for shares that are already owned by investors.
The filing points to a net income of $1 billion in 2011 and $3.7 billion revenue. Facebook is also claiming 845 million active monthly user,s 483 million daily active users, and 100 billion connections.
Zuckerberg has the majority of control on voting stock and owns 28.4% of the company which would put his net worth at around $30 billion.
Charlene Yi, founder of the Altimeter Group said: “Facebook’s I.P.O. marks another stage of the Internet’s evolution, it’s so valuable, because it’s not just about content, it’s about our connections.”
Source: New York Times
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