Thursday, February 09, 2012

Billions of Dollars of Free Target Wall Street

Social networking giant Facebook submit the documents for public offering on Wednesday (1/2), and trying to raise five billion dollars on Wall Street in biggest-ever flotation by an Internet company.

Filing documents with the Securities and Exchange Commission (Capital Market Supervisory Agency) give a glimpse of the U.S. financial details of the Internet phenomenon, which was launched eight years ago by chief executive Mark Zuckerberg from his room at Harvard University dorm.

Facebook said it would list their stocks on Wall Street as "FB" but did not set a date when its stock will begin trading. Company headquartered in Palo Alto, California, reported net income of 668 million U.S. dollars last year, up from 372 million dollars the previous year. Income rose almost doubled to 3.7 billion U.S. dollars in 2011 over the previous year.

With the funds raised five billion dollars, Facebook IPO would be the largest technology company, exceeded 1.9 billion U.S. dollars generated by the Internet search giant Google as "go public" in 2004 on the assessment (valuation) 23 billion dollars .

Facebook has a market capitalization estimated at 75 billion dollars to 100 billion U.S. dollars. With a market capitalization of 100 billion dollars will put up the equivalent of McDonald (101 billion U.S. dollars), far ahead of Boeing (55 billion U.S. dollars), but behind Apple (426 billion U.S. dollars) and Google (189 billion billion U.S. dollars ). (Ant / ARI)

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