Feb 01 2012
Any day now, perhaps as early as today, Facebook will announce it is going public. The firm is looking to raise $10bn selling shares in an initial public offering (IPO) that will value the firm at somewhere between $75bn-$100bn, according to reports. Not bad for a seven-year-old firm that has only recently started making money and apparently made $1bn last year. It will be the biggest tech IPO since Google, and investors (and rivals) will finally get to see what makes Mark Zuckerberg‘s social network.
It’s hard to comprehend this when everyone knows Mark Zuckerberg is worth $18 billion. However, Facebook has a lot of investors they’d like to pay off. Furthermore, they are simply raising capital to BUY THE WORLD. Look at Google – they bought YouTube, etc. As much as we’d like to think Facebook is this company that can buy whatever they want, they still need to raise money if they wish to attack other endeavors.. I know, I’m (yawning) too as I type this…
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