Facebook filed papers for its initial public offering and in the process provided us with the secrets to its success--as well as what it sees as its greatest threats.
The company filed an S-1 form with the Securities and Exchange Commission, officially declaring its intention to raise $5 billion through the IPO. The last major tech IPO was Google's, which raised $1.9 billion.
Last year, it saw revenue double to $3.7 billion, while its profit grew 65 percent to $1 billion. Over the past two years, its revenue rose nearly fivefold, while its profit more than quadrupled.
In stating the risks facing the social network, Facebook warned that the company could be hurt by the loss of advertisers if user engagement and activity declines. Also, the company doesn't have display ads in its mobile app, and could be hurt if more users check into Facebook through their smartphones. Other risks included government actions in different countries, new products and services failing, and a slowing rate of growth over time.
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