Due to a string of acquisitions and other business distractions, Facebook’s multi-billion dollar initial public offering that was rumored to be set for May 17th may be delayed until early or mid-June, according to CNBC. Facebook founder and CEO Mark Zuckerberg has not been preparing for the IPO, but instead has been more focused on running the business and making acquisitions. As a result, the social networking giant’s IPO date will reportedly be pushed back so the company has time to make the appropriate preparations. Facebook filed with the SEC in February, and could raise as much as $10 billion at a $100 billion valuation when it goes public in the coming months. Facebook’s IPO is expected to top Google’s $1.9 billion offering by a wide margin, making it the largest Internet IPO in history. Facebook’s shares will be listed on the NASDAQ exchange under the “FB” ticker symbol. More →
Depending on whether the U.S. Securities and Exchange Commission approves the company’s paperwork, Facebook’s highly anticipated IPO could be coming on May 17th, TechCrunch reported on Thursday, citing multiple unnamed sources. Earlier reports have indicated that the social networking giant was aiming for a May offering and Facebook halted trading on the secondary market late last month. The company filed with the SEC in February, and could raise as much as $10 billion at a $100 billion valuation when it goes public, although TechCrunch’s sources believe it will be less. The largest Internet IPO to date was Google’s 2004 offering, which raised $1.9 billion. Facebook’s shares will reportedly be listed on the NASDAQ exchange under the “FB” ticker symbol. More →
Facebook is reportedly targeting May for its initial public offering, which is set to be the biggest Internet IPO in history by a substantial margin. The Wall Street Journal on Wednesday cited unnamed sources in stating that Facebook was aiming for a May offering, and the company halted trading on the secondary market this week as it makes preparations. The company filed with the U.S. Securities and Exchange Commission in February, and it could raise as much as $10 billion at a $100 billion valuation when it goes public later this year. Google currently lays claim to the largest Internet IPO, having raised $1.9 billion in 2004. Facebook recorded net income of $1 billion on $3.71 billion in sales last year. The company’s social network is currently home to more than 845 million active monthly users. More →
In a recent interview on the Charlie Rose show, Facebook CEO Mark Zuckerberg said that Yahoo, Microsoft and Google are secretly collecting user data. Zuckerberg also argued that Facebook is more transparent than the aforementioned companies. “It’s just that they’re collecting that about you behind your back,” he said. “You’re going around the web and they’re collecting this huge amount of information about you and you never knew that.” Zuckerberg did admit that Google allows users to see which information it is storing through its Google Dashboard website, but said “very few people” know that feature exists or bother to check it. Zuckerberg also said Facebook provides more features for users to manage what people can and cannot see, although it is arguable that Google+ makes it much easier to configure these options from the get-go. A clip of the interview can be found after the break. More →
During the F8 conference on Thursday, Facebook’s CEO Mark Zuckerberg took the stage to introduce a host of new features that are rolling out to the social network. The major change is called “Timeline” and it takes advantage of existing pictures and status updates to create a more visual experience of “who you are.” As you scroll down your personal timeline, you’ll be able to view pictures and updates throughout the years. There is a new option in the upper right-hand side of your profile to quickly skip to a year in time too, and many of the features are also available on Facebook’s mobile applications. Read on for more, including a video of Facebook’s Spotify integration in action. More →
The Wall Street Journal is reporting that Facebook founder and CEO, Mark Zuckerberg, has signed the Giving Pledge, committing to donate the majority of his fortune to charitable organizations. The Pledge, which asks its signers to give away the lion’s share of their wealth during their lifetime, was organized by Microsoft founder Bill Gates and Wall Street mogul Warren Buffet. Other notable signatories of the pact include: Oracle CEO Larry Ellison, New York mayor Michael Bloomberg, AOL co-founder Steve Case, and film director George Lucas.
Mr. Zuckerberg, who has been quoted as saying wealth is both an “advantage” and a “responsibility,” made his first sizable donation of $100 million to New Jersey’s Newark Public School system this past September. ”There’s so much that needs to be done, it would be better to start now,” said the CEO in a prepared video.
Although his company’s valuation is based on a future IPO, Mr. Zuckerberg’s net worth is estimated at $6.9 billion. More →
Our friends over at Facebook were nice enough to hook us up with an invite to the initial roll-out of the company’s new messaging service announced this week. We’ve been messing around with the system for a few hours and thought we would put together some initial impressions for those who are interested or curious. Hit the jump and let’s get to it. More →
George Colony, founder and CEO of Forrester Research, keeps a blog that “contains ideas, observations, and analyses to help drive the success of other CEOs.” In a post yesterday, Mr. Colony bluntly stated that Facebook CEO Mark Zuckerberg is, to date, “a one-trick pony.” In acknowledging that Facebook is an excellent concept, Mr. Colony also writes that Mr. Zuckerberg has not “morphed” Facebook all that much from its original form. It is still the same idea, and for that reason, the market-research company’s CEO is skeptical.
“We didn’t declare Andy Grove a great CEO based on Intel’s domination of the dynamic random access memory market,” writes Mr. Colony. “But when he survived a close brush with bankruptcy, pivoted the company into microprocessors, and teamed with Microsoft to dominate personal computers, we recognized what a great CEO he had become.” The article also cites Steve Jobs’ ability to turn his creativity into “important products across three generations of customers and four unique generations of computing,” as an example.
“Zuckerberg appears to have the raw material to be a great CEO,” the post continues, “but we won’t know if he is or isn’t until he creates a new popular product or morphs Facebook into a monetary engine that justifies its current irrational valuation.” It seems as though Forrester’s CEO is saying what many — especially those on Wall Street contemplating a Facebook IPO — are thinking.
Now, George Colony may be getting a bit ahead of himself, as both Andy Grove and Steve Jobs have had decades to prove their mettle. But the article does foster great discussion points about Zuck, Facebook, and the privately held company’s $33 billion valuation. So sound off! We want to know what you think about the world’s largest social network, its CEO, and its current price-tag.
[Image credit: The New York Times] More →
We do wonder what it is like to be 26 years old and have a net worth of $6.9 billion. Seems like a pretty awesome problem to have. Forbes is reporting that Facebook founder and CEO Mark Zuckerberg is now ranked thirty-fifth on the Forbes 400 list; a list that details the richest Americans. One notable tech persona that Mr. Zuckerberg leapfrogged is Apple CEO Steve Jobs. Mr. Jobs is currently ranked forty-second on the list with an estimated net-worth of $6.1 billion. The young, social-networking tycoon isn’t just hoarding his cash though. The Wall Street Journal is reporting that the Facebook CEO is expected to announce a $100 million donation to the Newark Public School System. Currently the Newark, NJ system is the lowest performing system in the country; only half of its 40,000 students graduate high school. Nice work Mr. Zuckerburg, we’ll hit the proverbial “like” button for your charitable works. More →