Nathaniel Popper and Jessica Guynn posted an article in the LA Times called "Facebook files for initial public stock offering." "The social networking company has submitted registration documents with the SEC that set a preliminary goal of raising $5 billion. Facebook is expected to be valued at $75 billion to $100 billion." The company reported a revenue of $3.7 billion and a $1 billion profit. Even after Facebook goes public, Mark Zuckerberg is going to retain control over the big company he had started about eight years ago. The company made it clear that they will trade under the ticker symbol FB.
"Hackers believe that the best idea and implementation should always win — not the person who is best at lobbying for an idea or the person who manages the most people," the letter says. "He argues in the letter that Facebook should be viewed differently by investors than other public companies because it was not founded with the intention of making money." This offer is running jointly with other large investment companies such as J.P. Morgan. Facebook having a market cap of $100 billion, it will be a huge company to invest in.
No comments:
Post a Comment