Facebook Files for IPO, Reveals $3.7 Billion Revenue - wagnerolunnime1968
Facebook filed papers Wed to get along a common company, in the most anticipated IPO in a decade, with the society looking at to fetch $5 billion in investiture
The Initial offering is the just about anticipated public offering in a decade, with the keep company looking to earn $5 billion in investing. The paperwork reveals business enterprise information that attests to the social network's fantastic growth.
Morgan Stanley, J.P. Morgan, Emma Goldman Sachs, and three other financial firms are underwriting the deal, reported to papers filed with the U.S. SEC.
Facebook had revenues of $3.7 billion in 2022, compared to $2 billion in 2022, according to the filing documents. Net profit was $1 one thousand million in 2022, compared to $606 million in 2022. The fellowship had $777 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 bell ringer in 2008 and now has 845 million users. The site had 483 million daily active users on average in Dec, compared to 327 zillion in December 2022, the company told the Dry. Zuckerberg successful $1.5 million in 2022, reported the SEC filing. Sheryl Sandberg, the company's CEO, had a base earnings of $296,000, simply with a bonus and caudex grants, her total compensation was $30.9 million last yr.
No Date Available for the Initial offering
The publically open version of the SEC filing does non give a proposed date for the IPO. Facebook has not eventually released its expectations for the first stock cost.
Zuckerberg, in a letter coarctate in the SEC filing, same he didn't originally create Facebook to be a company, but to be a service that connects people. "Well-nig great people care primarily about building and existence a part of keen things, merely they also want to make money," the letter says. "Through the process of edifice a squad–and too building a developer residential district, ad grocery and investor immoral–I've developed a deep appreciation for how building a strong company with a strong economic engine and strong growth can be the first way to align galore people to solve important problems. "Merely put: we don't build services to score money; we make money to build better services."
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Source: https://www.pcworld.com/article/474107/facebook_files_for_highly_anticipated_ipo-2.html
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