One of the biggest stories this week involving technology and media innovation was Facebook’s IPO filing. Startups that want to offer their stock to the public for the first time must file an S-1 form with the Securities and Exchange Commission. Investors and others closely examine an S-1, which provides the public a first complete look at a company’s financial track record. Facebook’s S-1 revealed that the company has been profitable for the past few years as the number of active users has grown to 845 million. Unsurprisingly, Facebook’s success primarily comes from advertising, which accounted for 85 percent of revenue in 2011.
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