Investors: Don't Friend Facebook
Facebook's IPO filing yesterday revealed a lot of interesting information about the company. One fun tidbit was that the graffiti artist, David Choe, who painted the company's walls several years ago and opted to take stock in the unknown company instead of "several thousands of dollars in cash." Choe is expected to find himself $200 million richer as a result of the initial public offering (IPO).
Perhaps the most interesting revelation, however, was how enormously profitable Facebook has become. The filings reveal that Facebook earned $1 billion from $3.7 billion in sales in 2011. A couple of years prior, revenues hadn't even reached $1 billion mark and profits were nonexistent. Still, unless you have been blessed like Choe, or the hundreds of other individuals or institutions who got in on Facebook pre-IPO, Facebook may not be as good to you. ...585 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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