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.
