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$5-billion IPO to make Facebook worth $100 billion - Business News ...

New York: After a long wait and much speculation, Facebook filed for its IPO on Wednesday to raise a targeted $5 billion in a hotly anticipated initial public offering, setting the stage for Silicon Valley's biggest-ever IPO.

Trading in Facebook shares won't begin for at least a few months more. The world's largest social network, a dorm room project for Harvard dropout Mark Zuckerberg that exploded in popularity and vaulted to Silicon Valley's top tier within 8 years, is expected to make its market debut in the middle of the year. Analysts say that Facebook's valuation will fall between $85 billion and $100 billion, making it one of the biggest US market debuts.

In 2011, Facebook earned $1 billion on sales of $3.7 billion. As of December 31, Facebook had 845 million daily active users.

The company crossed the line into profitability in 2009, five years after it launched in founder Mark Zuckerberg's Harvard dorm room. Facebook earned $229 million that year on sales of $777 million, and has remained profitable ever since.

Its revenue in 2011 was $3.71 billion, up 88 per cent from the previous year but at the low end of expectations. Net income rose 65 percent to $1 billion.

Facebook appointed Morgan Stanley, Goldman Sachs and JPMorgan its lead underwriters. Other bookrunners included Bank of America Merrill Lynch, Barclays Capital and Allen & Co.

"We often talk about inventions like the printing press and the television," Zuckerberg said in a letter accompanying the documents. "Today, our society has reached another tipping point."

"There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future," said Zuckerberg, whose $500,000 base salary will drop to a dollar from January1 2013.

"The scale of the technology and infrastructure that must be built is unprecedented."

Zuckerberg's 533.8 million shares are worth almost $16 billion , based on a per-share value of $29.76 that the company assigned to its restricted stock units on December 31.

Facebook's revenue

The vast majority of Facebook's revenue comes from advertising, a combination of search and display ads.

Facebook had previously been expected to raise $10 billion in what would have been the fourth-largest IPO in U.S. history, after Visa Inc, General Motors, and AT&T Wireless, according to Thomson Reuters data.

The $5 billion figure in Wednesday's prospectus was an initial figure and could change based on investor demand.

The prospectus underscored how 85 percent of Facebook's 2011 revenue was derived from advertising. Last year, social-gaming company Zynga, creator of Farmville, accounted for 12 percent of Facebook's revenue.

The company Zuckerberg started in his Harvard dorm room in 2004 that grew into a global phenomenon dwarfs any recent Internet debut, such as Zynga, LinkedIn Corp, Groupon Inc and Pandora Media Inc. Their IPOs had mixed receptions.

The last dotcom player to debut, Zynga, closed 5 percent below its IPO price during its first trading day in December.

Google raised just shy of $2 billion in 2004, while the more recent Groupon scared up $700 million and Zynga managed $1 billion.

Facebook's growing popularity among consumers and advertisers has pressured entrenched Internet companies such as Yahoo and Google. In 2011, Facebook overtook Yahoo to become the top provider of online display ads in the United States by revenue, according to industry research firm eMarketer.

"Zuckerberg is trying to send a bona fides message to techies and users," said Max Wolff, chief economic and senior analyst at GreenCrest Capital. "Very smart and under the radar."

With additional information From Reuters

Source: http://ibnlive.in.com/news/facebook-shoots-for-5-billion-in-megaipo/226309-7.html

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Peek killing off US email and Twitter devices after 'lifelong service'

There's an old saying that eternal love lasts for two years. Apparently, that also applies to Peek's bare bones email and Twitter devices, which launched in 2008 and 2009 respectively. We've received emails from users anxious that their handsets -- all running on T-Mo's network -- stopped working on January 30th, despite them having paid up to $299 for "lifelong service." Although at least some users received emails about this, we've just had confirmation from Peek's CEO, Amol Sarva, that the products really are being abandoned. By way of justification, he told us that they're "seriously old" and have reached their end of life, with only a "handful of users" left in the US. He adds that anyone who bought the $299 one-off bundle still eked out 28 months of service, whereas paying the monthly $19.95 subscription plus extra for the device would have added up to much more. As to why the service is being killed, perhaps we should have taken the hint back in July, because now the company is all about software-only cloud services rather than handsets. Here's some more detail from Sarva himself:

"Unfortunately we cannot maintain the network forever for a few users, so that end time has come. The networks are changing standards, protocols etc and the old units are now end of life. We have lots going with rapid adoption of our software by phone brands around the world, so Peek is flat out building for a number of platforms that our OEM customers are deploying like Android and Mediatek. We are not offering a Peek-made device to replace these old ones."

[Thanks to everyone who wrote in about this]

Peek killing off US email and Twitter devices after 'lifelong service' originally appeared on Engadget on Thu, 02 Feb 2012 07:59:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/02/02/peek-killing-off-devices/

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Lenovo Products Are Finest For The Use Of Business ...

Lenovo is a reputed brand name in the world of personal computers. It obtained IBM?s Personalized computer division and became the major laptop producer of the world. Since then Lenovo is producing more recent laptop types with more recent technologies and high quality. Lenovo is the China?s largest and world?s fourth most significant computer manufacturer. Lenovo has released a few series of laptops ThinkPad, Concept pad and Price line sequence.

Lenovo Think Pad laptops are the final business resources for serious business end users. Apart from company end users, this laptop is of wonderful use for the college students and IT professionals. These Lenovo laptops are designed to increase the productiveness, improve the mobility & make it far more cost-effective. This laptop is developed with company class technological innovation. It features complete-sized TrackPoint keyboards, excess-prolonged battery life, tablets and touchscreen. These are energy productive units. Thinkpad series laptops long lasting chassis, challenging drive protected in opposition to shocks, large-end ultra performance and appealing design. ThinkPad laptops are fast and reliable because they are driven by large speed Intel multi core processors. Also they are equipped with Nvidia Quadro Forex graphics.

Lenovo is acknowledged for its energy productive devices and this characteristic is reflected by ThinkPad laptops. IdeaPad Collection is yet another series of laptops by Lenovo. This laptop computer can be utilised at office, home, residence place of work and far more. These laptop?s are the showcase of advanced technology. With these laptops in fingers, you can get pleasure from limitless flexibility, excellent portability and wireless connectivity. IdeaPad sequence laptop computer was developed by the top specialists and engineers operating at Lenovo.

While developing this laptop, they held in thoughts the anticipations of consumers regarding functionality, design and technology.Lenovo is a pioneer in introducing hardware functions with the latest technology. It?s all Lenovo which launched new encounter verification engineering in its laptops. Apart from that, Ideapad sequence has capabilities like Intel?s multi core higher velocity processor, Lenovo desktop navigator ( a new & fast way to obtain systems, shortcuts and other people), unique Windows Vista, Lenovo One Key rescue System (Recovery and repair service only with one particular button) and more.

Ideapad laptops are presented Energy Star four. certificate since of their eco-helpful construction and very low electrical power consumption.Valueline Laptops from Lenovo are intended for home, organization or property business office use. They are called valueline laptops since they deliver the best worth for income. There are Lenovo computers for any sort of budget. They are smartly intended notebooks for your mobile computing wants at correct rates. Lenovo laptops are the best resolution for all your mobile computing wants.

Source: http://www.bermudaviper.co.uk/blog/lenovo-products-are-finest-for-the-use-of-business

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