Facebook Finally Files For $5B

The long-awaited filing of Facebook was finally published yesterday. Amazing numbers, amazing success. You’ll find below the capitalization table and revenue numbers I (approximately) built form the S-1 document and you can compare it to the exercise I had done in 2010.

According to my analysis (I tried to take into account existing shares as well as options and restricted shares differently), Zuckerberg owns 20% of the company, the investors (preferred stock) about the same. IPO shares could be 5%. You can also have a look at the different rounds. And the difference is common shares (which may include investors) and employee options. Finally, I cannot comment on founders’ shares and you may have a look at the old table again.


click on table to enlarge Facebook 2012 cap. table

Revenues of $3.7B, a profit of $1B and 3’200 employees in 2011. A possible market value of $100B and an additional $5B in the bank. Google did not have such numbers. (Google had $1.4B in revenues, 2’500 employees and raised $1.2B at the IPO. It was only 6 years old though whereas Facebook is one year older. In 2005, Google had $5B in sales, $1.5B profit and 6k employees!) I had already compared both in a post in 2010: Google vs. Facebook and I have update the curves below.


click on table to enlarge

In the last 4 years, the yearly growth of Facebook has been over 80% for revenues and over 50% for the number of employees. I might be over-optimistic by saying that the average employee stock value is $4M (because of investor ownership of these shares too). The cap. table which follows shows numbers as guessed in 2010 and published in a post entitled The Social Network, when the movie was released.


click on table to enlarge Facebook 2012 cap. table

click on table to enlarge

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