FACEBOOK FILES FOR IPO (Update 1)
Updated from 5:09 p.m. ET to include additional information from the filing.
MENLO PARK, Calif. (TheStreet) -- Facebook finally filed to go public on Wednesday with the social networking giant seeking to raise $5 billion in what would be the largest-ever tech IPO.
The 202-page S-1 filing reveals that Morgan Stanley (MS) will be the lead underwriter for the Facebook IPO, with Goldman Sachs (GS) , Barclays Capital (BCS), Bank of America Merrill Lynch (BAC), J.P. Morgan (JPM) and Allen & Company all involved.
 |
Facebook brought in revenue of $3.711 billion in 2011, up from $1.974 billion in 2010 and $777 million in 2009. Social gaming giant Zynga (ZNGA) accounted for 12% of the company's revenue in 2011.
The company warned though that it expects its growth rates to decline in the future. "Our user growth and revenue growth rates will inevitably slow as we achieve higher market penetration rates, as our revenue increases to higher levels, and as we experience increased competition," Facebook said, in its S-1. Facebook currently has 845 million users, according to the filing, and has $3.9 billion in cash and cash equivalents. "We are in the early days of pursuing our mission to make the world more open and connected," explained Facebook, in the filing. "Advertising on the social web is a significant market opportunity that is still emerging and evolving. We believe that most advertisers are still learning and experimenting with the best ways to leverage Facebook to create more social and valuable ads." The company's CEO Mark Zuckerberg received total compensation of around $1.5 million in 2011. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.comSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
