We talk about horses, the sport of the kings and occasionally about stocks. We also do talk about wagering so If you are not over 21 yrs or do not wish to access content on wagering because of legal reasons or your religion, you are welcome to not read this blog.
Facebook filed for IPO recently and will go public in a little while.
Now to the numbers:
Facebook reports that it has about 845 million users. I would like to add a footnote to that. That should be 845 millions user accounts. I know several people who had created multiple accounts during the initial phase when fb let each email address to create an account.
Second, Facebook reports that it made $4.3 Billion. That translates to roughly $ 5.2 per user. Google, on the other hand reports $ 30 per user. Of course, I am slightly skeptical of that number too, but for what it's worth Google has been making real money for years now.
Third, Facebook's voting shares, will be controlled to over 56% by Mark Zuckenberg, the CEO. That leaves no powers in the hands of investors who would be putting in hard earned new money in..
So, I will be staying clear of Facebook because I see it as a gamble where I don't know the odds. I might as well as play that money in Santa Anita or the Kentucky Derby.. and have fun in the process.