A Facebook secret no more: public offering due

November 28, 2011

Start saving those pennies and get set to buy — in 2012 — a piece of the world’s biggest and trendiest social network, Facebook. The company is expected to shed a 10 percent interest to raise $10 billion — an amount which if achieved would quadruple the size of the biggest initial public offering for a tech IPO to date. [WallStreetJournal]

The Palo Alto company’s offering has been rumored for years, but sources now have told the Wall Street Journal that Facebook is expected to file necessary paperwork early next year, and to debut its stock market efforts during the second quarter.

Such a move would be widely viewed as “a defining moment for the latest Web investing boom,” reported the Journal, but there is no official word from the company itself.

“We’re not going to participate in speculation about an IPO,” said Facebook spokesman Larry Yu.

Facebook has gone so far as to craft its own prospectus, a document filed with the SEC to define a company’s business, the Journal reported.

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So true r0y. That is how you can tell when a good deal is no longer a good deal. Your “Financial Advisor” switches from owning it himself to suggesting that you buy it, and a company goes from Private to Public. If you listen closely, you should be able to hear the flush in the background.

Facebook is merely a social networking tool. The tool is only as helpful or time-wasting as you want it to be. For me, it’s a great way to periodically keep in touch w/out-of-state relatives. My cousins and even my elderly aunts & uncles use Facebook. We have a private Facebook group where we post wedding news, photos, & other family stuff.

Don’t get me wrong, I’m no fan of greedy Mark Zuckerberg or his complete disregard for users’ privacy. As w/other internet sites, you must be careful to adjust your privacy settings accordingly. And don’t post your address, phone, education info or anything else.

It’s obvious Zuckerberg planned a long time ago for Facebook to eventually go public. So don’t give extra info & then they can’t exploit your info for a profit. Like it or not, Facebook & other social networking sites are here to stay.

Lamebook. Giving millions and millions of people the opportunity to waste their time on an activity which gives them the mistaken impression that they are actually accomplishing something.

I will gladly short this issue just as I have GRPN and LNKD.

I was going to have a snarky comment about OWS people and facebook people, but I wonder if there is a larger, more serious problem: a lack of purpose. Maybe it’s a lack of meaningful work or something to occupy their time, perhaps we’re just in a big dip in the social bell curve-over time…

There were always fools amongst us, but now they all seem to have a facebook page and tent.

I’m off to update my facebook page via my iPhone to decry the evils of corporations!

Really, rOy, my elderly aunts & uncles aren’t “fools amongst us.” They’re home-bound seniors who’ve found Facebook to be a great & simple way to keep in touch w/their scattered family members. One uncle is a retired civil engineer (pretty high up on the social/intellectual bell curve) who uses Facebook to re-connect w/former colleagues & classmates all over the world.

The elderly are clearly a menace one of many hazards of social networking websites.

Just be very careful they do not become prey. There have been stories of thieves using facebook/social media info to pose as a relative (the old, “wire me some money to get out of jail, grandpa” scam).

They may not be fools, but the use of social media often makes fools out of kind, decent people. Just keep an eye on them.

I had a FB account for awhile. But what you say is so true. I got bored with it, alot of useless information,

and a big time waster.

I hate FaceBook, they are so snoopy. They are all over the internet looking to post/update anything you say or do to your page for you. If you say you like an article and give it a thumbs up, they automatically post it on your face book. If you want privacy stay away from FaceBook.

“If you want privacy stay away from the internet.” – fixed it for ya.

It’s a rigged game, by the time the “public” is offered anything, the cheaters and thieves will have made their money.

A Fool and his money…