Facebook finally files long-rumored $5 billion IPO

By on February 1, 2012, 7:17 PM

As expected, Facebook's initial public offering hit the Securities and Exchange Commission Wednesday, raising $5 billion -- less than the $10 billion previously speculated. The long-rumored move reached relative certainty last Friday when the Wall Street Journal reported the IPO would occur this week.

In its S-1 filing, the company said it'd start selling public stock as soon as possible. It also shared a handful of stats about the social network, which now has 845 million active users a month, 100 billion friendships, 2.7 billion likes and comments a day, as well as 250 million photos uploaded each day.

The form also revealed that the service has been profitable for three years with revenue of $777 million on profit of $229 million in 2009. Revenue grew 154% to $1.974 billion in 2010 and another 88% to $3.711 billion in 2011. Facebook earned some $1 billion last year and its sitting on $3.908 billion in cash.

CEO Mark Zuckerberg earned a salary of $483,333 in 2011 with a $220,500 bonus for the first half of the year and $783,529 in other compensations (some $692,679 of it was for chartered airplanes). This pay "reflected the impact of his performance in leading our product development efforts, our success in growing Facebook's global user base and developing strong developer and commercial relationships," the document reads.

Other executives, including Sheryl Sandberg, David Ebersman, Mike Schroepfer and Theodore Ullyot received base salaries of $275,000 to $300,000 in 2011, but received far greater total sums via stock awards. For instance, Zuckerberg's compensation totaled $1.48 million in 2011, while Sandberg's was over $30.87 million with stock factored in. The others received between $6.9 million and $24 million in total compensation.

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