Supermalt

Facebook IPO

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Facebook's impending initial public offering will likely net its 27-year-old founder Mark Zuckerberg a fortune of $28 billion.

According to IPO paperwork Facebook filed Wednesday, Zuckerberg owns 28.2 percent of the soon-to-be-public company, and is its single largest shareholder.

If raises money at a high-end valuation of $100 billion dollars, Zuckerberg's stock would be worth $28 billion. On top of his stock, last year Zuckerberg was paid $1.49 million in salary, bonus and other compensation for his role as chief executive, according to the filing.

A net worth of $28 billion would have placed Zuckerberg at number nine in Forbes magazine's rich list last year, following tech luminaries Bill Gates and Larry Ellison.

But even as Zuckerberg vaults into the pantheon of the world's richest people, the young entrepreneur has already proven he doesn't intend to act like a typical billionaire.

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Facebook staff in London will become overnight millionaires after a record stock offering - and European vice-president Joanna Shields is among those in line for the astonishing windfall.

Dozens of the social networking giant's staff in the capital stand to benefit after it announced plans for a $5 billion (£31.1 billion) stock market flotation.

Facebook employs 100 at its Soho office and is set to move to a new base in Covent Garden with room for up to 250 within weeks.

The deal, which is expected to value Facebook at up to £63 billion, means many staff can cash in thanks to their shareholdings.

About a third of the firm's 3,000 staff will be made millionaires when shares begin trading, which is expected to be in March.

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Graffiti artist who took shares instead of cash for painting Facebook's first HQ seven years ago to make $200MILLION in stock market float

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A graffiti artist who painted the walls of Facebook's first headquarters seven years ago is set for a bumper payday of $200million after he agreed to take Facebook stock instead of cash for his work.

David Choe, 35, was asked to paint the offices in Palo Alto, California, in 2005, and was offered the choice by then-president Sean Parker of being paid a few thousand cash or the equivalent in shares.

Now, after a blockbuster $5billion Facebook stock exchange flotation moved a step closer last night, he is one of at least 1,000 company employees finally on their way to becoming millionaires.

Mr Choe, of Los Angeles, California, recently went to the new Facebook headquarters in Menlo Park to spray paint a wall, and can be seen in a video getting the help of founder Mark Zuckerberg, 27.

He also did the cover art for Jay-Z and Linkin Park's hit 2004 music album Collision Course and even created a poster of President Barack Obama for the White House, reported the New York Times.

Although Mr Choe reportedly considered the idea of Facebook ‘ridiculous and pointless’ at the time of his painting, he took the stock when offered the option, reported the New York Times.

Now he could end up being paid more for the job than Damien Hirst got at a record-breaking 2008 Sotheby’s auction. Now a successful artist, Mr Choe refused to be interviewed about his windfall.

Many ‘advisers’ to the company in its formative years were paid between 0.1 to 0.25 per cent of the company, according to a former employee. This now translates into tens and hundreds of millions

y?

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Shittttt i'd cash in.

and go enjoy the rest of my life of leisure.

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i would cash in just half the funds

facebook ain't going nowhere now

london staff are smiling the bastards

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Read a story somewhere some graff artist painted the walls of their first office and got paid in shares. His shares are now estimated to be worth about 200 mill when it floats. Don't rememebrr which paper it was in though

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so how can u buy shared now then for facebook before di march cash in?!?!?

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i just realised u cant, as it is not a PLC

FAAAAAAAAAAAAAAK

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graffiti artist is doing it right

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so how can u buy shared now then for facebook before di march cash in?!?!?

Look for the new facebook.

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uno the worst bit, back when facebook started zuckerberg asked his roomie if he wanted to join his team(wudda bin a 50/50 thing) but he said no cause his dad advised him not to do anymore "zuckerberg projects"....

zuckerberg is very smart, facebook isnt going down the bebo road(AOL bought for 800million and later AOL sold it for 10million)

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facebook isnt going down the bebo road

IPCsA.jpg

edit; oh wait, you said isN'T. whoops.

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f*ck he is only 27?! Thought he'd be atleast 30+ now

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facebook isnt going down the bebo road

IPCsA.jpg

edit; oh wait, you said isN'T. whoops.

Enlarge image i9a1vkqmY28M.jpg

AOL CEO Tim Armstrong. Photographer: Ramin Talaie/Bloomberg

AOL Inc., the Internet company spun off from Time Warner Inc., sold its Bebo social-networking service to Criterion Capital Partners LLC for less than 2 percent of what it paid for the site two years ago.

AOL, which paid $850 million for the site, got less than $10 million for it, said a person familiar with the matter, who declined to be identified since the price wasn’t made public. AOL said in a filing today it expects to record a tax benefit this quarter of $275 million to $325 million from the sale.

:lmao: at the loss

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i don't see any alternative to facebook tbh that it cant squash or copy better

unless theres some big scandal with everyones personal sh*t

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i don't see any alternative to facebook tbh that it cant squash or copy better

unless theres some big scandal with everyones personal sh*t

i dont think it will die out completely but we all like to go onto the "next new thing", whether thats twitter or somthing yet to be created,but the one thing facebook has that no1 cant touch iis the advertismnt market

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this sort of growth is amazing

see thats the thing, once your online company can help other companies advertise den your laughing all the way to the bank, but things make change cause google +1 jus reached 100+mil users in a short space of time

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Any 21 year old coulda told them Bebo was a waste of money.

That's why it's always a good idea to ask somebody 1st.

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f*ck*ng hell thats the sort of growth that companies only dream of

can only imagine how its gonna be like 5 years from now

i dont see how fb can be knocked off as peoples photos are there from the start - 5 years from now some people will have 10 years worth of photos backed up on fb

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