The almighty dollar is the only object of worship - Philadelphia Public Ledger
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Facebook is swimming in a £3.5bn cash pool
THE SOCIAL NETWORK Facebook is swimming in a $3.5bn cash pool, according to leaked figures.
According to figures leaked to Gawker, the firm has assets of $5.6bn, including $3.5bn in cash, and made a net profit of $714m between January and September this year. Operating revenues were $2.5bn.
These figures are far bigger than suggested by the $70bn valuation that the social network is expected to get when it sells shares in an initial public offering (IPO) next year.
Last month, we reported that Facebook could hit the stock market valued at $100bn. The Wall Street Journal had said that Facebook's IPO is imminent, and that it could raise as much as £10bn.
We said at the time that it is a mystery how a web site that champions consumer product preferences, thoughts on politics and big business, their age, sexual preferences, religion, likes and dislikes and political leanings could be worth so much money. However, it looks like that amount could actually be far more. µ
Tags: Internet
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i'm not on facebook so get your facts straight before you sound of from your diminished insulated world
making sweeeping statements like that reduces the credibility of the rest of your statement
oh, and there is an alternative to facebook - life in the real world where you can manage your own prviacy too
you should take that brave step and venture forth - its nothing to be frightened of. you may even gain a little more control of your life and thoughts.
why doesnt he do something benevolent with it then?
oh, i forgot - he's a greedy &%$@er that doesnt give a #£/? about the rest of the world
ZUCKERBERG STOLE HIS BUDDIES IDEA FOR HIS OWN GAIN, BUT THEN HE HAD THE SKILLZ TO GET ER DONE AND THEY DIDNT. SO SCORE ONE FOR THE GEEKS, HOWEVER, HES STILL A SLEAZY GEEK. BUT HES A BILLIONAIRE NOW AND THATS WHAT IT TAKES TO JOIN THAT CLUB. OBVIOUSLY EVERYBODY HATES SLEAZEBALLS, BUT THERE IS LITERALLY NO ALTERNATIVE TO FACEBOOK SO THATS WHY EVERYBODY IS ON FACEBOOK. PLUS MANY PEOPLE ADMIRE THEM A GOOD BRAZEN SLEAZEBALL (DESPITE HATING THEM AT THE SAME TIME). IS FACEBOOK A SLEAZY COMPANY, OH YES YOU BETTER BELIEVE IT, BUT PROBABLY NO MORE THAN YOUR AVERAGE COMPANY. AND WHAT THEY DO, THEY DO WELL. PLUS PEOPLE TRULY DONT KNOW HOW FACEBOOK MAKES MONEY OFF THEM AND ITS EASIER TO BE IGNORANT ANYWAY.
Facebook cashes in on people's private details. Its privacy policy is a sham and everytime hides under techincal faults when it gets caught. But at the same time some people who will not give their details in person, will share all their details on facebook. Many have been sacked for using facebook at work or breaking company policy by their comments. But the biggest danger is that it is teaching other websites to do the same as well when they look at facebook's success.
ill-gotten dirty cash that is