The two Internet giants, Facebook and Google are now having a beefy table war in the stock market, according to analysts. Recently the social networking titan, Facebook Inc, has filed $5 billion Initial Public Offering (IPO) last Thursday, February 2, 2012.
According to the several international news sites, Facebook Inc is officially filed $5 billion initial public offering that could value the social network between $75 billion and $100 billion, making it one of the biggest U.S. stock market debuts of all time.
“We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services”, stated from the letter of Facebook CEO Mark Zuckerberg to the potential shareholders from the IPO filing document.
Technology analysts Michael Gartenberg of Gartner Technology said that, “It gives Facebook the ability to roll out more services,” Gartenberg adds that “It’s going to be harder for companies to compete with Facebook.”
During the filing of IPO, Facebook mentioned, Microsoft and Twitter as competitors but made it clear its chief rival is Google.
Facebook stated that, “We compete broadly with Google‘s social networking offerings, including Google+.”
“Some of our current and potential competitors have significantly greater resources and better competitive positions in certain markets than we do,” Facebook said.
According to US Securities and Exchange Commission, Facebook had net income last year of $668 million and revenue of $3.7 billion.
While, Google posted a net profit of $2.71 billion last quarter alone on revenue of $10.58 billion.