It's official, Facebook wants to make sparks on Wall Street. The social network which has almost 1 billion users has presented the documents necessary to proceed with an initial public offering (IPO) to the Sec, the American Consob. The actual launch is expected in the second quarter and analysts have estimated a total value of the company between 85 and 100 billion dollars. Facebook has set the yield of the offer at the indicative figure of 5 billions of dollars, which could increase up to 10 billion. That figure would make it one of the tastiest IPOs in Wall Street history.
Will Morgan Stanley the main underwriter of the IPO of the Palo Alto giant, together with JP Morgan, Goldman Sachs, Bank of America, Barclays and Allen & Co. It is probable that the listing will take place both on the Nasdaq and on the New York Stock Exchange (Nyse).
In 2011, Mark Zuckerberg's social network recorded a revenue of $3,72 billion and profit of one billion. The number one of Facebook has promised that from 1 January 2013 he will lower his basic salary from today's $500 to the symbolic figure of one dollar – following the example of Apple founder Steve Jobs. Not bad if you think that this year Zuckerberg received an almost double sum – 1,49 million dollars – in total compensation, including bonuses and stock options.
But the goal of the listing, explained Zuckerberg as CEO of Facebook, is development and not the proceeds. “We don't do services just to make money,” she said, “more and more clients want to use services from companies that believe in something beyond profit.”
