2 ms·
To add to the absurdity of claiming Facebook IPO'd without a business model, here are the financials surrounding their IPO (which was May 2012): 2009 | $777m s
by adventured 6y ago
To add to the absurdity of claiming Facebook IPO'd without a business model, here are the financials surrounding their IPO (which was May 2012):
2009 | $777m sales | $229m net income
2010 | $1.97b sales | $606m net income
2011 | $3.71b sales | $1b net income
2012 | $5.09b sales | $32m net income
2013 | $7.87b sales | $1.49b net income
A billion in profit the year before IPO, supposedly without a business model. Uber should have considered not having a business model. Here is what FB's business model was in 2012: ring the advertising cash register all day and night.