Anyone buying facebook?

DrunkenNovice

DrunkenNovice

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Trip said:
now, THIS is funny


SINGAPORE — Facebook co-founder Eduardo Saverin has renounced his U.S. citizenship, a move expected to save him hundreds of millions of dollars in taxes stemming from the company’s impending initial public offering.

The Brazil-born 30-year-old became a U.S. citizen in 1998 but has lived in Singapore since 2009. Giving up his citizenship will allow him to avoid paying taxes on billions of dollars of capital gains when Facebook launches its IPO Friday. Singapore does not have a capital gains tax.


Saverin gave up his citizenship in the first quarter of this year, the U.S. Internal Revenue Service said.

“Eduardo recently found it to be more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” Saverin’s New York-based spokesman Tom Goodman said Tuesday in a statement.

Goodman said that because Saverin plans to invest in Brazilian and global companies that have strong interests in entering Asian markets, “it made the most sense for him to use Singapore as a home base.”

Saverin has a 4 percent stake in Facebook, which has headquarters in Menlo Park, California. Analysts say the company could be worth $100 billion.

Saverin, who moved to the U.S. from Brazil in 1992, founded Facebook with Mark Zuckerberg in 2004 while the two were students at Harvard University. Saverin gained additional fame when his conflict with Zuckerberg and departure from the company was depicted in the 2010 movie “The Social Network.”

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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:dead: They got a bill trying to ban this dude from coming back :laff:
 
SuburbanPimp

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Maybe if this was 2009 or 2010 I would have said its a good deal.

But now :usure:

Yeah they have 800 million users but how many are actually active on the site.

Half the people that added me a friend never post on there.

The only way for them to generate more revenue is more Ads & Games and the more they do of that the more people will leave.

I just don't see positives of purchasing this stock other than its popular
 
Dooby

Dooby

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How do I buy into it? Somebody please answer.

I'm going all in. You're stupid not to.
 
Turbulent

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checking their financial statements real quick.

they had 3.7 billion in revenue for 2011 and net income = 1 billion.

balance sheet seems good. (EDIT: again for 2011) very little debt. compared to assets. some would say that this could be a slightly bad thing cause maybe it means they're out of ideas as far as generating profits. i think it's a good thing overall.

this is only roughly how they were doing pre-IPO. they seem somewhat conservative.

besides advertisement revenue, i don't know what they're sources of income are. don't know what they have planned. i'm guessing they could easily start investing and become a semi-holding company. or maybe they have something up their sleeve for other ways to make money in their field...
 
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