This week has been a busy one, and not just for Punxsutawney Phil! The entire online world has been watching and weighing in on the importance and potential impact of Facebook’s Initial Public Offering (IPO).
Over the past few days, the world has gained valuable insight into the social media giant, including the very reasoning behind why Facebook exists. Along with the Facebook IPO, many interesting statistics were released, like the fact that Facebook has now reached over 845 million users(out of which 425 million are active monthly users) and made $1 billion in profit during 2011.
The Facebook IPO has been great news for other social companies that have gone public. Facebook revealed that Zynga is a very important partner and accounts for 12% of their total revenue during 2011. Due to this disclosure, Zynga stock has received a “Facebook Bounce,” but the ripple effect doesn’t look like it is going to stop there.
The entire ecosystem that has formed around Facebook is now looking forward to joining the hundreds of Facebook employees who are set to become millionaires because of the IPO.
Got some extra time on your hands? Read the full SEC filing for Facebook’s IPO.