That’s the valuation that the king of social media hopes investors will accept as it considers whether to make one of the biggest public stock offerings ever this spring, The Wall Street Journal reports. The paper says that Mark Zuckerberg’s company wants to raise $10B and could file documents at the SEC to begin the process by the end of this year. Visa, General Motors, and AT&T Wireless are the only U.S. companies that have collected more than $10B in an initial public offering. Up to now, Zuckerberg has been cool to the idea of going public, which would require Facebook to disclose a lot of information about its finances. But he may have to give the public a peek even if he keeps the company private: He’ll have more than 500 investors by year end, the Journal says, and the SEC requires companies that cross that threshold to open up about some of their numbers. The figures are sure to be impressive: The company is believed to generate more than $4B a year in revenue. READ MORE »
If you thought that Facebook might be gearing up to compete with Netflix, then think again. Netflix CEO Reed Hastings just joined Facebook’s board of directors. “Facebook is propelling a fundamental change in how people connect with each other …
UPDATE: Here is the video:
The Facebook founder and his movie doppelganger joked around and shook hands in tonight’s SNL introduction. There had been a lot of chatter in the past few days that SNL was trying to land Mark Zuckerberg but nothing was …
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