Facebook is a social utility that connects people with friends and others who work, study and live around them.
Facebook Now Accounts For 20% Of Internet Pageviews
When you are a tech company looking to unveil a $5 billion IPO, you really can’t afford to have nothing but good news announced about your company. And faith it seems, is very kind to Facebook at the moment.
The social networking giant signaled its intent to unveil its IPO very soon with the filing of its S-1 document to the SEC. The $5 billion IPO is set to value Facebook somewhere in the region of $75 billion to $100 billion. Just reading that aloud makes my head hurt–$100 billion after all is more than the combined annual GDP of at least 10 of the world’s poorest countries.
But moral considerations aside, news of the SEC filing certainly sent the web in a tail spin. There was so much buzz on the web that even the SEC’s website crashed under the strain of visits. And what were people so eager to find out? Only that Facebook gets around 845 million visitors a month, and that half of that 845 million are actually logging in every day. This level of traffic means that Facebook alone accounts for 20% of all internet traffic. People were also interested to find out how much of the company the ‘Zuckster’ still owns. This turns out to be 28%, a figure which no matter how you look at it suggests Zuckerberg will be a very, very rich man indeed.
Is Facebook overvalued? Let us know in the comments below.