FACEBOOK'S IPO FILING IS HERE
Facebook just filed an S1 with the SEC announcing its intention to sell shares to the public.
The filing contains all sorts of long held secrets about the company.
We're going through it now, and updating this post with anything remarkable we learn.
QUICK TAKE: Facebook's ad business is not growing as fast as you'd like, but rates are going up, even as inventory soars, and that's reassuring. The payments business – the way Facebook makes money off FarmVille, etc – grew 500% in the past year, too. Holy cow: Zuckerberg is rich.
Financials:
2011 Revenue was $3.711 billion vs. $1.974 billion in 2011.
2011 net income (taxed): $1 billion vs $606 million in 2010.
Annual revenue grew 154% from 2009 to 2010 and 88% from 2010 to 2011.
Cash on hand: $3.9 billion
Raising: $5 billion
Ad revenue in 2011: $3.2 billion over $1.9 billion for 2010. There was a 42% increase in ads delivered in 2011. There was an 18% increase in price of ads 2011.
Revenue mix: 2011 85% was advertising. 2010 95% was advertising. 2009 100% advertising.
Payments revenue in 2011: $557 million up from $106 million in 2010.
Zynga is 12% of Facebook's business.
Facebook lists innovation from Google, Microsoft, and Twitter as risk factors.
Why increasing ad rates: "improvements in ability to deliver more relevant ads. Product changes to deliver higher interaction."
Quick Take: 88% overall growth y/y is not as impressive as we'd like. 500% growth in payments is very impressive, however. So is increasing the price of ads 18% while increasing ads sold 42%.
USER NUMBERS:
845 million users (monthly) 483 million daily – daily is up 43%.
More than 425 million mobile users in December.
Facebook mobile app is most downloaded app on all smartphones.
Quick Take: Those are STUNNING daily numbers.
SEXY STUFF:
Mark Zuckerberg owns 28.4% of Facebook. He's worth $25bn+.
Zuckerberg spent $800,000 on airplanes last year.
Dustin Moskovitz, cofounder, owns 7%.
Between her stock, options, unexcercised options, and restricted stock units, Sheryl Sandberg SEEMS to be worth about $2 billion. The math is a little unclear since we don't know if RSUs convert to stock on a 1 to 1 ratio.
Peter Thiel's stake is worth $2.2 billion
Jim Breyer (Accel Partners) has a stake worth around $10 billion.
Quick Take: Way to go Jim Breyer!
Related:
Dear Facebook Investors, This Is Your Section Of Zuckerberg's S-1 Letter
Here's Facebook's Advertising Revenue By Year
Here's The Six-Figure Salary Mark Zuckerberg Paid His Sister
Facebook Has 425 Million Mobile Users, But Makes $0 From Them
Mark Zuckerberg's Letter To Facebook Investors
Enough With The Rumors, Here's Who Is Underwriting Facebook's IPO
MARK ZUCKERBERG IS WORTH ~$25 BILLION
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