So excited, in fact, the SEC website crashed. Mixed in with the anticipated details-- the $5 billion dollar IPO -- the document tells us things we could only speculate before. Just as Zuckerberg had feared, going public has exposed all of Facebook's company secrets. Like these:
Mark Zuckerberg makes a lot of money. For now. With his extravagant vacations, we knew Zuck was making bank. But now we get to find out how much. "Wow that's a chunk of change," tweeted Gizmodo. "Zuck's base salary is $500k. Sandberg's: $300k $FB," tweeted Mashable's Lauren Indivik. But, as CNBC's John Carney notes, that won't last for long.
Mark Zuckerberg getting huge pay cut next year!— John Carney (@carney) February 1, 2012
A la Steve Jobs, Zuck will opt for the dollar-per-year salary. Then again, he still owns a big chunk of the company, points out Reuters's Anthony De Rosa.
Mark Zuckerberg holds stock with total voting power before IPO of 56.9%— Anthony De Rosa (@AntDeRosa) February 1, 2012
It's fun to look at all the ways Facebook can fail. Lots are taking delight in reading the risks section of the IPO.
This list of things that could go wrong for Facebook is amazing!— Maxwell Strachan (@maxwellstrachan) February 1, 2012
And, surprise, looks like a lot of it has to do with privacy.
The term "privacy" appears 35 times in the Facebook filing (mostly related to 'Risk Factors'. New S1 record? sec.gov/Archives/edgar…— ashkan soltani (@ashk4n) February 1, 2012
All about the friendships? Not really. In the filing, Facebook confirmed over 800 million users. That's all that matters right?
WHO CARES ABOTU MONEY when you have 100 billion friendships on your social network— Ellis Hamburger (@hamburger) February 1, 2012
Well, we bet Facebook cares about this kind of money a little bit.
Facebook IPO documents reveal 2011 revenue of $3.7billion, profit of $1 billion.— Rory Cellan-Jones (@BBCRoryCJ) February 1, 2012
Facebook sure does rely on Zynga. When Zynga filed its IPO, investors and bloggers worried that it depended too much on Zynga. But turns out the two have a symbiotic relationship, with Facebook getting 12% of its revenue from Zynga. "We need them," tweeted Mashable's Lauren Indivik. That might not be such a good thing, notes De Rosa.
Zynga has been losing steam, so where is Facebook going to make up that 12% if Zynga continues to decline?— Anthony De Rosa (@AntDeRosa) February 1, 2012
And they got that hip ticker symbol. As IPO rumors escalated, many wondered which symbol Facebook would get, with FACE already taken. Even though traditional stocks had either 3 or 4 letters, Facebook has gone for a stylish two, as Wired.com editor-in-chief Evan Hansen notes.
Facebook's ticker symbol: FB— Evan Hansen (@evanatwired) February 1, 2012
To go with a hip signature?
Mark Zuckerberg's signature is weird twitter.com/hamburger/stat…— Ellis Hamburger (@hamburger) February 1, 2012
Regret? With all the cash flowing in, why ruin a good thing?
Facebook IPO: almost 1B users, $4B in revenues growing 70%, $1B profits and $4B in cash: why ruin a perfectly good private company?— Eric Hippeau (@erichippeau) February 1, 2012
Excitement! Zuck's Sister Randy's happy about the news. "YAY!!!" she tweeted.
Sadness. Humorous Twitter feed @PourMeCoffee can think of at least one crushed party in this whole ordeal.
If you know a Winklevoss twin, give them a hug today.— pourmecoffee (@pourmecoffee) February 1, 2012
This article is from the archive of our partner The Wire.
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