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Facebook Files For Long Awaited IPOPOSTED February 3, 2012 MENLO PARK -- Facebook has finally filed for its long awaited Initial Public Offering. The social networking giant is looking to raise $5 billion according to its S-1 filing with the Securities and Exchange Commission. The company will use the symbol FB but hasn't decided whether to list on the Nasdaq or NY Stock Exchange. It also hasn't determined its share price yet and the company's total valuation which has been an estimated at $100 billion. Facebook did reveal in its filing that it is already one of the most profitable Internet companies in the world. In 2011, Facebook had revenues of $3.7 billion and profits of $1 billion. It has been profitable since 2009 when it earned $229 million on $777 million in revenues. Revenues increased to $1.97 billion in 2010 and profits of $606 million. Google, on the other hand, earned revenues of $37.9 billion and net income of $9.7 billion in 2011. Facebook reported that it has 845 million users from around the world, 100 billion friendships and 250 million photos uploaded per day. There are 165 million active users in the United States. The company earns revenue from advertising and the sale of virtual and digital goods using its Payments Infrastructure. CEO Mark Zuckerberg has a 28.2% stake in the company and the largest shareholder followed by Jim Breyer of Accel Partners with 11.4%. Dustin Moskovitz, who founded the company with Zuckerberg, has a 7.6% stake. Morgan Stanley has earned the coveted position of lead underwriter for Facebook's stock offering, followed by J.P. Morgan, Goldman Sachs, BofA Merrill Lynch, Barclays Capital and Allen and Co.
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