Daily Archives: February 1, 2012

Facebook has finally filed to go public, with plans to raise at least $5bn.  The 845m-strong social network’s S-1 registration statement appeared on the US Securities and Exchange Commission’s website on Wednesday afternoon.

Some key facts from the IPO filing: founder Mark Zuckerberg has a 28.4 per cent stake worth $22.7bn, based on a $80bn valuation for the company. Facebook made $1bn on $3.7bn in revenues in 2011.  It will trade under the symbol FB and Morgan Stanley is the lead broker.

After the jump,  a breakdown of  the contents of the 192-page filing and reaction from around the web as reported in our live blog. Read more

There could hardly be a better moment for Google to change its spots.

With Facebook’s initial public offering looming large, all eyes are on the newest internet darling. Google, for once, finds itself in the shade, even though its revenues and profits still dwarf its social networking rival.

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There was more bad news in France for Google on Wednesday as a Paris court decided that the internet company had abused its dominant position in online mapping tools.

The decision comes as we await the bigger decision by the European Commission over whether Google has behaved anti-competitively in the search market. Read more

Microsoft, which often lobbies intensively behind the scenes against Google, has for the first time taken its campaign into print. It began a three-day series of adverts in US newspapers on Wednesday taking aim at Google’s latest moves to integrate its services and standardise its privacy policies.

The message: You can no longer trust Google to put its users first. Read more

Tech news from around the web:

WikiLeaks, the whistleblowing website, is investigating the possibility of taking its hosting infrastructure offshore to avoid the long arm of the law, reports Fox News. The suggestion is that this would be more than just an island out of the reach of the taxman – WikiLeaks has explored floating its infrastructure on a barge in international waters, Fox claims. Julian Assange is in London’s supreme court this week fighting his extradition to Sweden, while a new legal challenge has also emerged from FSI, his former lawyers, who accuse the WikiLeaks founder of failing to pay his legal feesRead more

The first major product of sweeping changes to how the government handles its internal IT systems and public-facing websites is to be unveiled on Wednesday, as a new unified website for online public services goes live for testing.

A new single government domain, at www.gov.uk, will replace Directgov, the portal which launched in 2004, before extending across Whitehall departments’ sites in the coming weeks. Read more