Social Media Exchange
Written by C Bret Campbell | 26 January 2012 vol. 3
Facebook Stock Exchange
Big news in Social Media, this week! Facebook has announced that hey are going public – as in “publicly traded” on Wall Street. The initial public offering is scheduled to take place in May.
There has been great anticipation as to just “when” Facebook would make this announcement, and it comes sooner than many thought it would. The young company reached limits on revenue and size for a private busines early last year, but they actually had until April 30 to make the announcement.
Facebook – founded by Mark Zuckerberg – is one of the fastest growing companies in the world. The kid really hit on something! Showing nearly double last year’s numbers, Facebook reported $3.7 billion dollars in revenue, and a $1 billion dollar profit, this fiscal year. Facebook commands 28% of U.S. online ad display, providing a whopping 85% of the company’s income. The IPO makes it seem that they are trying to raise $5billion.