At long last, the Holy Grail of Internet IPOs is here. Facebook filed Wednesday to raise $5 billion in an initial public offering.
It's not yet known on which stock exchange Facebook will trade, or what its ticker symbol will be.
In 2011, Facebook earned $1 billion on sales of $3.7 billion. As of December 31, Facebook had 845 million daily active users.
The vast majority of Facebook's revenue comes from advertising: a combination of search and display ads.
Facebook's other revenue stream is its payment system for purchases within apps and games: Facebook Credits. Facebook keeps 30% of the revenue from those payments, and passes the remaining 70% on to the app developer.FULL STORY