Facebook IPO Date Rumored To Be May 17th, Reports Declining Profits Despite 45% Revenue Increase (NASDAQ:FB)
The long awaited day when social networking juggernaut and phenomenon known as Facebook (NASDAQ:FB) finally goes public is right around the corner.
Analysts and experts across the globe are slating May 17th to be the historic day when the world witnesses what likely will be the highest ever Initial Public Offering (IPO).
Nobody quite knows what that number will be, but expect a complete feeding frenzy.
In addition, Facebook has released their Q1 numbers featuring a 12% decrease in profits of $205 million despite a 45% increase in revenue hitting $1.1 billion for the quarter. This is said to be due to increased expenses in research and development, marketing and sales.
They’ve also agreed to acquire 650 patents from Microsoft (who previously acquired them from AOL) for a reported $550 million in cash in an effort to build a portfolio to protect the company’s long term interests. However many say it’s a move they made to also go up against Yahoo who just happens to be suing them for patent infringement.
Facebook also has reportedly finalized the deal to purchase photo sharing start-up Instagram for $300 million cash plus 23 million shares valued at about $30 per share.
When they go public, will you be investing in Facebook? Please share your thoughts below.