Facebook files IPO, wants to raise $5 billion

By on

Image: Tom Solari/techgeek.com.au

Facebook is going public. The social networking site has filed its hotly anticipated (and much rumoured) IPO, with the company seeking to raise $5 billion from selling its shares on the stock market. The company, however, has not listed when it will sell those shares, nor has it released any initial price on those shares.

The company also plans to sell Class A stock – which will entitle holders one vote. However, there will be Class B stock – allowing holders ten votes per share. So, we can expect Facebook’s own executives will take hold of Class B stock to maintain some control over the direction of the company.

However, there are juicy tidbits coming from Facebook’s own filing – including announcing that there were 845 million active users on the site, 250 million photos uploaded every day, and 2.7 billion likes and comments across the site per day. The company also announced that it has made $3.7 billion – with 84 percent just on advertising revenue.

You can read the entire IPO filing below.