Thursday, December 08, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
ARM Physical IP for TSMC 7nm Process Technology Now Available
HTC Launches Vive Studios, Debuts "Arcade Saga" Title
Radeon Software Crimson ReLive Edition Brings Support For Chill, Along With New Features
Microsoft Unveils Windows 10 for Qualcomm Chips, "Project Evo" PCs For Mixed Reality And Gaming
Samsung's First Foldable Phone May Actually Not Have A Foldable Screen
Apple In Talks With Hollywood For Early Movie Rental
Bluetooth 5 Technology Brings Advancements In Terms Of Range, Speed And Capacity
Global Virtual Reality Association Established To Promote VR
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Faceboo...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, February 02, 2012
Facebook Seeks to Raise $5B in Biggest Internet IPO


Facebook has filed to raise $5 billion in an initial public offering.

In its regulatory filing Wednesday with the Securities and Exchange Commission, Facebook indicated it hopes to raise $5 billion by selling a small percentage of its shares to the public in its IPO.

The company yesterday named Morgan Stanley as the lead underwriter on the IPO, while reporting a 24-fold increase in sales over the past four years to $3.71 billion in 2011.

A $100 billion market capitalization would value Facebook at 26.9 times trailing 12-month sales. Facebook didn?t specify the number or price of shares it will offer, and the $5 billion amount is a placeholder used to calculate fees and may change.

Co-founded in 2004 by Mark Zuckerberg, Facebook has grown into the world's dominant social- networking site, squelching competitors such as MySpace Inc. with its more than 800 million users. While Facebook?s sales almost doubled last year, the company faces increasing competition from rivals such as Google, which debuted its own social-networking service last year and Twitte, the filing shows.

The stock would trade under the symbol FB on either the Nasdaq Stock Market or the New York Stock Exchange.

Depending on how long regulators take to review Facebook's IPO documents, the company could be making its stock market debut around May.

In a letter included in Wednesday's filing, Zuckerberg paints a rosy, idealistic picture of Facebook.

"Facebook aspires to build the services that give people the power to share and help them once again transform many of our core institutions and industries," he wrote.

Zuckerberg also pledged to stay true to Facebook's scrappy roots even on the road to becoming a multinational corporation.

"The word 'hacker' has an unfairly negative connotation from being portrayed in the media as people who break into computers," he wrote. "In reality, hacking just means building something quickly or testing the boundaries of what can be done."

According to the filing, Zuckerberg is the company's top holder with 28.4 percent of the shares, the filing shows. He also has proxy agreements with fellow stockholders that potentially give him voting control over more than half the shares. Accel Partners remains the top outside stakeholder with 11.4 percent of the investor votes, while Dustin Moskovitz, one of Zuckerberg?s co-founders, holds 7.6 percent voting power.

In outlining its potential risks in the filing, Facebook cited hacker attacks, regulatory scrutiny, a shift to mobile technology and rivals such as Google+. The company also said it would face competition in China if it manages to gain access to that market, where its site is currently blocked.

Facebook is also increasing its focus on mobile technology to take advantage of the shift to smartphones and tablets. It expects its next 1 billion users to come mainly from mobile devices, rather than desktop computers.

As the site's popularity grew, banks, hedge funds and mutual fund companies started buying stock. In January 2011, Facebook said it raised $1.5 billion in a financing round led by Goldman Sachs that valued the company at $50 billion. Goldman Sachs, funds managed by the firm, and Digital Sky Technologies bought $500 million of stock, while Goldman Sachs offered $1 billion of shares to non-U.S. clients.


Previous
Next
Microsoft Attack's Google User Data Policy, Google Responds        All News        PageRank Penalty For Chrome Drops Browser's Share
Microsoft Attack's Google User Data Policy, Google Responds     General Computing News      PageRank Penalty For Chrome Drops Browser's Share

Get RSS feed Easy Print E-Mail this Message

Related News
Facebook, Twitter And Google Are Partnering To Help Curb Spread of Online Terrorist Content
Facebook To Offer $20 million To Improve Silicon Valley Communities
Facebook To Use Artificial Intelligence to Flag Offensive Videos
Facebook Brings Games To Messenger
Facebook Said To Propose Censorship Tool to Re-enter China
U.S. Authorities Investigate Facebook Drone Accident
Facebook Takes Staps To Fight Fake News
Facebook Buys Facial Recognition Startup FacioMetrics
Google, Facebook To Ban Puiblishers Of Fake News From Their Ad Networks
WhatsApp Adds Secure Video Calling
Some Facebook Users Appeared Dead Due To Bug
Facebook To Stop Ethnicity-based Targeting For Ads

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .