Stocks, Shares And Likes: Facebook Goes Public
Is it possible that Mark Zuckerberg is about to get even richer? Just eight years ago, Z-Dawg (that what his friends call him..probably) was a typical nerdy college student, but now he’s a typical nerdy internet billionaire.
His latest plan to milk the world of even more money is to float Facebook on the stock market – raising a mind-shattering FIVE BILLION DOLLARS – that’s £3.16 billion in real money.
The sale of Facebook shares is expected to be the biggest by any internet company, ever.
In order to float the social network, its finances, facts and figures had to be fully laid out, so we now know for sure that Facebook has 845 million users, of which 443 million are daily users, and made a billion-dollar profit last year.
Zuckerberg, who owns 28.4% of Facebook, said: “Facebook was not originally created to be a company. It was built to accomplish a social mission – to make the world more open and connected.
“We think it’s important that everyone who invests in Facebook understands what this mission means to us, how we make decisions and why we do the things we do.”
Reports have suggested the company could be worth $100bn, about the same as Amazon and McDonald’s.
But some commentators ask whether the valuation is realistic and if there is any more money to be made from Facebook’s main income source – advertising.
Either way, if you’re reading this, Z-Dawg, can you lend us a tenner? Or ten grand – we’re not fussy…