Facebook has done S-1 filing for starting its much expected IPO.
Facebook in its IPO filing revealed that it now has 845 million users, nearly half the world’s Internet users. And it reported $1 billion in profits on $3.7 billion in revenue last year.
The S-1 filing also revealed how dominant founder and CEO Mark Zuckerberg’s control of the company is, with Facebook’s structure of two classes of stock ownership and a highly unusual arrangement that gives Zuckerberg 57 percent of the voting power of Facebook stock.
The bulk of Facebook’s revenue — 85 percent — comes from advertising, but a growing portion of it comes from fees through “Facebook Credits,” largely those related to processing payments for virtual and other goods purchased on the site.
