Facebook filed it’s long-awaited S-1 form with the U.S. Securities and Exchange Commission on Wednesday, announcing its intent to raise $5 billion and begin public trading. The highly anticipated move caused enough of a stir to clog traffic on the SEC’s website and provided some insight into the social network’s financial situation. According to the filing, last year’s revenue almost doubled to $3.7 billion, and profit came in at $1 billion, a 65 percent growth on the year. The filing also offered a glimpse of Facebook users’ daily usage habits.
Loading ...
Facebook Laid Bare for All to See
Posted by: Rachelle Dragani February 2, 2012 10:52 AMFacebook filed it’s long-awaited S-1 form with the U.S. Securities and Exchange Commission on Wednesday, announcing its intent to raise $5 billion and begin public trading. The highly anticipated move caused enough of a stir to clog traffic on the SEC’s website and provided some insight into the social network’s financial situation. According to the filing, last year’s revenue almost doubled to $3.7 billion, and profit came in at $1 billion, a 65 percent growth on the year. The filing also offered a glimpse of Facebook users’ daily usage habits.