NEWS VIDEO – WHY IS IT GOING PUBLIC NOW?
It’s crazy to think that Founder Mark Zukerberg is taking Facebook public. This move would make him one of the richest men in the world. The 27-year-old will be worth billions, but he will also make many of his twenty-something-year-old employees instant millionaires. How lucky are those computer geeks!
Facebook announced today that they have filed papers to become a publicly listed company (IPO), and is now trying to raise $5 billion. This would be the largest deals for a social networking site in history, and all this from such a young guy. Why didn’t I come up with this simple plan. I like to talk to a lot of people…just do it face-to-face….darn! If I only had taken that extra step…to link it to a computer:). Face-to-face-book would probably not have worked.
This type of success would be similar to the Dot Com Boom of the 90’s, but this time it would be with just a single company. Facebook’s value is estimated at $75 – $100 Billion which is just below McDonald’s. The biggest difference is the limited time it took for Zukerberg to secure 845 million users, and it’s expected to hit 1 Billion this year.
It’s great to hear that a young entrepreneur can create an empire at this early stage in his life. But he should be warned, going public changes the game substantially. While he agreed to drop to $1 for his annual salary during the first year and will still be in charge…when you’re a public company you aren’t really in charge. In my experience; it was miserable with them wanting to know your every move. I absolutely hated working for a publicly traded company and vowed to never do it again.
Good for the twenty somethings…they are probably jumping out of their shoes due to their lucky break. They only filed the paperwork today, but in a few months time, they may find he just made a deal with the devil. I give Zukerberg a year…he will likely take his huge fortune and start another venture.
On another note, does this mean we will now have to pay? We all know public companies are greedy and will suck us dry! Be prepared for changes…they will definitely come soon.
Hey Mark…you looking to adopt a Blogger? (pick me…pick me!)
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