Facebook has filed for a US$5 billion IPO stock market launch
“Facebook has officially filed its stock market launch registration for a whopping US$5 billion initial public offering (IPO), trouncing Google’s previous record of a US$1.9 billion IPO in 2004.
In English, this means that the giant social network site is valued at a mind-boggling US$100 billion and its shares will be publicly available for purchase from mid-May.
At least 1000 Facebook employees are expected to become millionaires once the company goes public, although CEO Mak Zuckerberg’s annual salary is said to be dropping from US$500,000 to just US$1, not unlike the late Steve Jobs’ yearly pay cheque.
Helpless Facebook addicts may see more changes geared towards increasing the company’s annual revenue however, as they will soon have a host of shareholders eagerly waiting to lap up increased profits.”
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