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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

February 1, 2012 at 1:55 PM

Highlights from Facebook IPO filing

A few highlights of Facebook’s S1 filing to offer stock publicly:

– Facebook had sales of $3.7 billion last year, up from $1.97 billion in 2010 and $777 million in 2009.

– Net income was $1 billion in 2011, up from $606 million in 2010 and $229 million in 2009.

– The company had 845 million monthly average users as of Dec. 31, up 39 percent from the year before.

– As of December, Facebook had $3.9 billion in cash and marketable securities on hand.

– The company had 483 million daily average users in December, up 48 percent from December 2010.

– More than 425 million monthly average users used Facebook mobile products in December.

– There were more than 100 billion friend connections on Facebook as of Dec. 31.

– Users generated an average of 2.7 billion likes and comments per day during the three months ending Dec. 31.

– Chief Executive Mark Zuckerberg, 27, received a $500,000 salary last year, plus a $220,500 first-half bonus. Starting Jan. 1, 2013, he’ll receive a base salary of $1 per year. He also owns 28 percent of Facebook, pre IPO.

– Facebook spent $68 million on acquisitions last year.

– During 2012, the company plans capital investments of $1.6 billion to $1.8 billion. Capital expenditures in 2011 were $606 million, including servers, storage equipment, network equipment and datacenters.

– Facebook has 56 patents and 503 patent applications pending in the U.S.

– The company employs 3,200 people, up from 2,127 last year.

Zuckerberg’s letter to investors says the company doesn’t build service to make money – “we make money to build better services.”

An excerpt:

“By focusing on our mission and building great services, we believe we will create the most value for our shareholders and partners over the long term – and this in turn will enable us to keep attracting the best people and building more great services. We don’t wake up in the morning with the primary goal of making money, but we understand that the best way to achieve our mission is to build a strong and valuable company.

This is how we think about our IPO as well. We’re going public for our employees and our investors. We made a commitment to them when we gave them equity that we’d work hard to make it worth a lot and make it liquid, and this IPO is fulfilling our commitment. As we become a public company, we’re making a similar commitment to our new investors and we will work just as hard to fulfill it.”

Microsoft isn’t listed as a shareholder in the filing, but it bought a 1.6 percent stake in Facebook in 2007. The filing only lists holdings of executive officers and directors and holders of 5 percent or more, a list that includes affiliates of Accel Partners, Goldman Sachs and DST Global Limited, plus Dustin Moskovitz and T. Rowe Price Associates.

Facebook earnings:

fbearns.jpg

Here’s the filing (loading is slow and balky – it’s 198 pages long; here’s a link to the filing at the SEC):

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