Facebook Amends Its IPO Registration A Second Time. Facebook filed a second amendment to its initial public offer registration with the Securities Exchange Commission.
A great deal of the filing includes developments that the public has already learned of since the original registration February 1. Following are highlights. The company doubled its line of credit to $5 billion and obtained an additional bridge loan of $3 billion to provide funds for employee stock vesting. The lead lenders on the latter are JPMorgan and Morgan Stanley.
All 10 of the line of credit financers are on the IPO underwriting team. The IPO underwriting team has expanded from six banks to 31, with the additions including Citigroup, Credit Suisse, Deutsche Bank, RBC Capital and Wells Fargo. Facebook acknowledged a possible legal duel with Yahoo, which wants the social network to pay licensing fees on 13 patents. 7 Reasons Why Facebook IPO Was A Bust. Facebook founder Zuckerberg faces $1 billion-plus tax bill - Feb. 7. Facebook founder Mark Zuckerberg's 2012 tax bill could be one for the record books.
NEW YORK (CNNMoney) -- Facebook's upcoming IPO will make founder and CEO Mark Zuckerberg a billionaire -- but it will also stick him with an eye-popping tax bill that could reach as high as $2 billion. Industry experts say that might be one for the record books. "I personally have never seen a bill into the billions -- close, but not quite," said Anthony Nitti, a Colorado-based CPA and partner with Withum, Smith and Brown.
"I talked to a few buddies of mine at the Big Four accounting firms, and it's something not many people have seen. " Zuckerberg’s Big Tax Bill May Benefit Facebook. Facebook Math: $1 Invested Can Earn You $800. It turns out the incident of the chimp who tore off his owner’s friend's face was more family feud than disgruntled pet.
Much like the humans he documents who came to rule Earth, Jared Diamond is out with a new book sure to increase his rule in the classroom. Most students known Diamond from the PBS documentary based on his Pulitzer Prize-winning book Guns, Germs, and Steel. Now, Diamond is out with a new edition of his popular book The Third Chimpanzee, this time adapted “for young people” by Seven Stories Press and Rebecca Stefoff. The book, for those who missed the original, discusses how and why humans evolved differently than did chimpanzees, who differ from us in DNA by only 2 percent. “I found that high school classes and even middle school classes would come to my lectures,” Diamond said in an interview with The Daily Beast, when asked why he wrote the book.
The book is also a plea from a generation that had its time in the sun to do better to save the earth. Facebook’s IPO: How Mark Zuckerberg plans to retain dictatorial control his company. Scott Olson/Getty Images.
When it goes public, Facebook will be conducting an experiment in corporate dictatorship nearly without precedent for such a large and high-profile company. All large firms are, of course, run by powerful CEOs. And when the CEO is also a founder of the enterprise, his control tends to be magnified. But formally speaking, companies are owned by their shareholders and controlled by a board of directors that’s at least theoretically supposed to look out for shareholder interests.
In practice, this is often difficult. Facebook IPO. 3 Ways Facebook Plans to Exploit Users. In a move hitting the front page of nearly every newspaper in the world, social networking giant Facebook took the first steps toward an initial public offering (IPO) yesterday by filing what's called an S-1 form with the Securities and Exchange Commission.
Business, finance, media and technology views from the Financial Times. Singing about social media One poor woman is performing a song at a social media conference.
Wait for the chorus: “social”. Read more FT column: Silicon Valley gets excited about a small news story Suddenly, after a prolonged drought, fresh money is pouring into US digital news. The cultural challenge of Lululemon’s expansion Companies expanding overseas have made great efforts to counter past mistakes of corporate imperialism – rather than merely exporting home grown staff and products they make an effort to adapt to local culture and consumer tastes.
McDonalds, for example, offered vegetarian burgers and samosas in Gujarat, where most citizens are vegetarian. Facebook: Here Are the 35 Things That Could Kill Our Company. Facebook IPO: Sheryl Sandberg Was Facebook's Best-Paid Employee in 2011. Sheryl Sandberg, chief operating officer of Facebook, got paid $30.87 million last year, making her the most highly compensated employee at the company in 2011.
That disclosure, including in Facebook's S-1 filing with the SEC on Wednesday, further outlines that Sandberg got $295,833 in salary plus a bonus of $85,133 and stock awards worth $30,491,613. That trumps the $1.49 million that CEO Mark Zuckerberg received. Zuckerberg's compensation included a salary of $483,333 plus a $220,500 bonus and "other compensation" worth $783,529. The bulk of that figure was related to "personal use of aircraft chartered in connection with his comprehensive security program for his family and friends. Another $90,850 of that amount was for "costs related to estate and financial planning. " David Ebersman, the company's CFO, meanwhile, received $18.68 million last year, which includes a $295,833 salary, a bonus of $86,133 and $18.3 million in stock awards. Image courtesy of Flickr, World Economic Forum.
BaltTech: Facebook files for IPO, seeks to raise $5 billion - Technology news: Digital tech, innovation, Apple and Microsoft news from reporter Gus Sentementes. At 4:47 p.m. today, Facebook Inc. filed its S-1 registration statement as it seeks to go public and raise $5 billion.
Some key facts: from the filing: * The Web 2.0 company has 845 million monthly active users. It had revenues last year of $3.7 billion, compared to $1.9 billion in 2010. Facebook IPO: Zynga Generates 12% of Our Revenue and We Need Them. The Special Zynga-Facebook Relationship: By The Numbers. Today’s S-1 filing revealed that Facebook generates approximately $550 million annually through Credits, $375 million of which can be attributed to Zynga.
Additionally, Zynga accounts for a whopping 12 percent of Facebook’s revenue. Thanks to the filing, Zynga’s stock soared close to five percent in after hours trading. While Facebook’s revenue streams are sufficiently diversified, it appears that the company is extremely dependent on Zynga when it comes to Facebook Credits. Many have speculated over the past few years how big of an impact Facebook Credits would have on the overall ecosystem, but today’s filing shed some light on the state of the platform and the virtual goods ecosystem. Of Facebook’s $550 million in Credits revenue, approximately 68 percent was generated from Zynga, based on our estimates. Facebook IPO Filing Flings Open the Social Network Kimono. Zuckerberg's Letter to Shareholders: "Personal Relationships Are the Fundamental Unit of Our Society" Editor's note: As part of Facebook's initial public offering announcement today, founder Mark Zuckerberg included this letter to potential shareholders.
"Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected. We think it's important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do. I will try to outline our approach in this letter. At Facebook, we're inspired by technologies that have revolutionized how people spread and consume information.
There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future. Today, our society has reached another tipping point. There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future. Zuckerberg to Potential Shareholders: Facebook Is on a Social Mission. The world got a peek into Facebook's inner workings on Thursday when the Securities and Exchange Commission published the company's preliminary prospectus for a long-awaited initial public offering (IPO). It also got a glimpse of how Mark Zuckerberg views the company. In a letter to potential shareholders within the document, Zuckerberg wrote that Facebook "was built to accomplish a social mission" and said the company was inspired by technologies such as the printing press and television, which "make the world more open and connected.
" He also stressed that "we don't build services to make money; we make money to build better services. " 'The Hacker Way' versus 'Don't Be Evil' - Facebook and Google cultures square-off. Mark Zuckerberg's letter to prospective shareholders was incredibly vague about his company's social mission, and there was no announcement of a charitable foundation -- as Google had done when it filed its IPO papers eight years ago.
A comparison of the two founders' letter to shareholders reveals a surprisingly large difference in what motivates the rival organizations, what's important to them ... and what's not. Some industry watchers expected Mr Zuckerberg to try to best Larry Page's eloquent and impassioned "Founder's Letter" that launched Google's IPO. Both founders were close in age when they wrote letters introducing their company to prospective shareholders -- an important document that sets and explains the company's culture. Larry Page jumps straight to the point: Google exists as a business so that it can make a big difference in the world. He introduces the concept of "Don't Be Evil," a rule to guide senior management decisions. Facebook IPO Reveals How It Made $3.71 Billion in 2011. Facebook filed for its IPO today, and it revealed a great deal about how it makes money.
It's not too surprising that Facebook said it generates "a substantial majority of our revenue from advertising," though it also revealed just how much it makes via its partnership with Zynga. Revenue from Zynga games contribute 12% of Facebook's bottom line. Facebook said it made $3.71 billion last year, so almost $500 million of that came from Zynga, which includes both users buying virtual goods and services within the games via Facebook Payments as well as "direct advertising" that Zynga bought.
Facebook also pointed out that Zynga's worth even more to Facebook than the numbers say, since the users playing games mean more pages get served to those users, and in turn more ads. In the filing, Facebook pointed out the risk involved in having such an interdependent relationship with Zynga. In IPO filing, Facebook names Google as its No. 1 foe. Facebook Files for its IPO [BREAKING] Facebook Files S-1 for $5 Billion IPO (revealing stats & revenue) InShare281 Updating as this plays out with deeper analysis and links… Just a few moments ago, Facebook officially filed an S-1 for an initial public offering seeking to raise $5 billion. Facebook Files IPO: What It Means For You.