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It's Becoming Clear That No One Actually Read Facebook's IPO Prospectus Or Mark Zuckerberg's Letter To Shareholders

It's Becoming Clear That No One Actually Read Facebook's IPO Prospectus Or Mark Zuckerberg's Letter To Shareholders
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Why Facebook Clearly Belongs in the 10X Revenue Club February 1, 2012: Attached are my thoughts on the Facebook S-1 along with some quick stabs at valuation. Brief disclosure, Benchmark Capital has a minority position in Facebook as a result of the acquisition of FriendFeed, a company that was incubated in our offices. I thought it would be useful to look at Facebook using the scorecard from our May 24 blog post, “All Revenue is Not Created Equal, the Keys to the 10X Revenue Club.” On a roll, these factors are: 1. So how does Facebook score on these metrics? The bottom line is that these scores are fantastic. Here are a few other interesting things from the S-1: Tax Rate.

Mal de dos 10 exercices faciles Le mal de dos, quand il est d'origine mécanique, se soigne avec des exercices de musculation et d'étirements actifs de la colonne vertébrale et des auto-massages profonds sur les muscles dorso-lombaires à faire au moins 3 fois par semaine, idéalement tous les jours. Le mal de dos d'origine inflammatoire est moins répandu (1 patient sur 20). Il est la conséquence d’une maladie auto-immune sous-jacente qui peut s’aggraver avec le temps. Réaliser des radiographies et des bilans sanguins permet de distinguer le type de mal de dos dont on souffre, mécanique ou inflammatoire. Causes du mal de dos Sollicitation musculaire excessive Vertèbres, disques, muscles et nerfs sont impliqués dans le mal de dos mais il semble bien que le dysfonctionnement des muscles dorsaux, et notamment du muscle multifidus, à la suite d'un geste souvent anodin exécuté en extension ou en rotation dorsale, soit la cause dominante des lombalgies, lumbago et autres douleurs lombaires. Préparation physique inadaptée Le sport

Massachusetts Fines Morgan Stanley Over Facebook I.P.O. Richard Drew/Associated PressAlmost as soon as Facebook went public on May 18, questions arose and problems showed up with the trading of its shares. 10:48 a.m. | Updated Morgan Stanley is paying for its role in the troubled stock market debut of Facebook. On Monday, Massachusetts’s top financial authority fined the bank $5 million for violating securities laws, the first major regulatory action tied to Facebook’s initial public stock offering. William F. “The broader message here is we are going to use any means possible to enforce the strict code in place about giving out information,” Mr. The consent order did not name the Morgan Stanley banker, referring to him as a “senior investment banker.” “Morgan Stanley is committed to robust compliance with both the letter and the spirit of all applicable regulations and laws,” a Morgan Stanley spokeswoman, Mary Claire Delaney, said. Mr. The fine is a small dent in the firm’s overall profit from the Facebook public offering. This behavior, Mr.

Facebook’s business model Startups usually succeed because of a single major product or business innovation. Google is unusual in that they succeeded because of two major innovations: their core search product, and their keyword advertising business model. Back in 2000, when Google was wildly popular but generating no revenue, the conventional wisdom was that their business model was uncertain. Then Overture invented keyword advertising and Google adopted the same model. Facebook relies on an old internet business model: display ads. The good news for Facebook is there is a lot of room to target ads more effectively and put ads in more places. The key question when trying to value Facebook’s stock is: can they find another business model that generates significantly more revenue per user without hurting the user experience?

Brain Pickings Facebook IPO fallout might get even worse (Photo: ITAR-TASS/Stanislav Krasilnikov/CP) The most anticipated initial public offering in years has also turned out to be the most disastrous. Trouble began almost immediately for Facebook on May 18, when its first day of trading was delayed by half an hour due to technical glitches on the Nasdaq exchange. Problems continued throughout the day as the system was overloaded with requests. But what’s worse than the immediate IPO fallout is Facebook’s current share price. To wit, revenue from Facebook’s payments operation (money earned when users purchase virtual goods for games) is under pressure. The decline in payments only increases the pressure on Facebook to nail its mobile advertising strategy. New attempts to tap the mobile market are promising—mobile ad revenue was virtually zilch at the start of the year, but now Facebook is earning approximately US$3 million per day.

Why I doubted Facebook could build a billion dollar business, and what I learned from being horribly wrong Facebook, early 2006Sometimes, you need to be horribly, embarrassingly wrong to remind yourself to keep an open mind. This is my story of my failure to understand Facebook’s potential. In 2006, I was working on a new ad network business that experimented a lot with targeting ads with social network data, broadly known as “retargeting” now. We met the Facebook team at their office right next to the Sushitomo on University Ave. Ultimately, we didn’t get to work with them though we did eventually sign 1000s of publishers including MySpace, AOL, Wall St. The metrics for Facebook – high growth, very low CPMs As part of our meeting, we talked a bit about the metrics around Facebook, and I was immediately struck by a few things: Facebook was growing fast- very fast, and impressively handled by a super young team (like me!) From these numbers, I did a quick calculation: $0.25 CPM * 5 billion ad impressions per month max? And of course, I was totally, horribly wrong :)

(BL1) L'ajout d'image via drag & drop modifie ma dernière personnalisation Biggest Tech Flops Of 2012: Top 5 Failures, From The Facebook IPO To Microsoft Surface Below is a list of tech’s biggest flops in 2012, from products that never took off to business moves that failed miserably. Google’s Nexus Q. At its I/O developers’ conference in June, Google touted its Nexus Q device to be a premiere addition to its Nexus-branded line of products. The round Android-based social streaming media player was offered up for pre-order alongside the Nexus 7 in June, but was quickly removed from the Google Play Store. The company had decided to “postpone the consumer launch of Nexus Q while we work on making it even better.” Microsoft’s Surface for Windows RT. When the Surface initially launched, Microsoft failed to accurately clarify the difference between Windows 8 and Windows RT. Apple Maps. However, when iOS 6 launched in September, users were met with some unpleasant surprises. “At Apple, we strive to make world class products that deliver the best experience possible to our customers,” Cook wrote in his open letter. Facebook IPO. Sean Parker’s Airtime.

Facebook Will Probably Be More Profitable Than Amazon This Year In the first six months of 2011 Facebook had $1.6 billion in revenue and about $800 million in operating income, says a source I trust a lot. That revenue number has been reported before. And the 50% profit margin is in line with last year’s $2 billion in revenue and $1 billion in operating income. With Facebook growing revenue and profit by more than 50% every six months, it won’t be surprising if they hit something close to $2 billion in operating income for the year. To put that in perspective, realize this – Facebook will likely be more profitable than Amazon this year. Amazon’s Q3 financials are coming out this week, and Citi analyst Mark Mahaney says to look for around $298 million in operating income from Amazon for the quarter. Mahaney also notes that Amazon’s Q4 may not look as rosy as usual due to the launch of the Kindle Fire.