<nettime> Handoko Suwono: Facebook paves its way to IPO

[Patrice Riemens <patrice@xs4all.nl>]

bwo Asiasource3 participants list

Facebook paves its way to IPO

I didn't know facebook some two years ago. Now it is going to offer its
shares in the stock exchange. In layman term, it means that facebook now
has some value that the owner may offer to sell portion of previously a
no value company with users paying nothing.

"A Facebook IPO may attract the same level of attention as Google Inc.?s
share sale in 2004. Google sold 19.6 million shares for $1.67 billion in
August 2004, giving the company a market value of $23 billion."

The more and more users will only create facebook more power and the
richer it will be, not by gaining income from users but from people who
want to invest by buying shares from the stock exchange. In this case,
the New York stock exchange.

"Facebook, which has more than 300 million users, has raised more than
$600 million from investors since it was founded more than five years
ago. Its most recent infusion came this spring from Russian Internet
investor Digital Sky Technologies, which invested $200 million in
exchange for a 2 percent stake in the company, valuing Facebook at $10
billion. "

In short, actually we the facebook users are working for the company or
its owner by getting more friends acquainted and accounted as new
recruited facebook users.

The same goes with google wave, the more users it has, the more powerful
it will be and we are part of the growing unpaid workers that will
certainly make google richer.


Handoko -
www.datacom.co.id/blog.html


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