News broke this afternoon that Facebook filed their S-1 with the SEC. The company plans to sell stock to the public under the trading symbol FB, and is looking to raise $5 billion. News of the filing caused the SEC’s website to crash and Facebook to trend on Twitter. Check out what Twitter users are saying about the filing below:
Zuckerberg owns 28% of Facebook, making him worth about $20-$28 billion, among top five in world.
As others are citing, Facebook calls out that 12% of its revenue comes from Zynga, a risk.
Facebook IPO: Mark Zuckerberg recorded a total compensation amount of $1.4 million for 2011; base salary to fall to $1 in 2013.
Facebook: Does not expect to pay dividends for "foreseeable future" & will use IPO proceeds for "working capital" and other purposes
#Facebook is exercising "controlled company" clause, which means no independent board of directors and no compensation committee.
Mark Zuckerberg owns 28.4% of Facebook and 99% of your life
Facebook revenues in 2011 were $3.71bn, not bad but the S-1 details a litany of bad scenarios that could cause them serious trouble
#Facebook COO Sheryl Samberg made $31 million last year. For those keeping count, that is nearly double that of Lebron James.
#Facebook is more dependent on advertising revenue than CBS, the most ad-dependent old media firm..At upwards of 85% of revenue,