Social networking giant Facebook is all set to eat a bigger portion of the pie. The popular social network has filed its papers to go public and raise $ 5 billion. This will be one of the largest floatation by an internet company in public stock offering. The biggest social networking site in the world chose to file IPO at the backdrop its 8th birthday. Filings with Securities and Exchange Commission, U.S. reveal Facebook has 463 daily users and a total of 845 million users.
According to the filing, Facebook’s annual revenue generated is $3.7 billion, out of which operating income stands at 1.8 billion and net income 1 billion. According to analysts, the IPO that is expected to blossom soon would raise the value of the company and is tipped to be between $75 billion and $100 billion. Edging past Indonesia, India is now Facebook’s second largest user base with close to around 44 million users. The world is under a Facebook spell. How long it lasts will remain a mystery.
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