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Howdy, I'm MG Siegler. I’m a general partner at CrunchFund and a columnist for TechCrunch. This is where I collect things.
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Mark Zuckerberg turns 28 on May 14. That is a Monday.
Amidst my snark, there are a few high level things about Facebook’s numbers that I find interesting.
First:
So Facebook had nearly double the profits of Amazon in 2011…
— MG Siegler (@parislemon) February 1, 2012
Second:
Facebook revenue and profit are both about about 1/10th that of Google (which went public 7.5 years ago). They. Are. Coming.
— MG Siegler (@parislemon) February 1, 2012
Third:
Facebook has more profit than Google had revenue when they went public.
— MG Siegler (@parislemon) February 1, 2012
Fourth:
Google had $961.8 million in rev and $105.6 million in profit when they went public. At same point, Facebook is a refined profit machine.
— MG Siegler (@parislemon) February 1, 2012
I certainly don’t love everything about Facebook, but there’s no denying that it’s an impressive company — one of the most impressive ever built. You have to respect the fact that they have no fear when it comes to completely changing their product on the fly. Most companies would not have the balls to do half of what Facebook has done over the past few years from a position of power. That alone is why I’ve been bullish on Facebook for a long time.
Obviously, the entire Internet is creaming itself over S-1 filing right now. But I actually don’t think it’s unjustified. When you consider the Google numbers listed above, it’s exciting to think that we’re entering a new era of growth and prosperity for technology companies. It’s exciting not just for Facebook, but for everyone in this space.
The cynics will say these good times won’t last. And they’ll ultimately be right because well, nothing lasts forever. But as the Internet and technology in general continues to be intertwined into the lives of every person on this planet, I can’t help but think this is all just the start of something that we can’t even fathom right now.
The most interesting part:
By helping people form these connections, we hope to rewire the way people spread and consume information. We think the world’s information infrastructure should resemble the social graph — a network built from the bottom up or peer-to-peer, rather than the monolithic, top-down structure that has existed to date. We also believe that giving people control over what they share is a fundamental principle of this rewiring.
Which reads suspiciously like: “Dear Google, suck it.”
Wait wait wait!!! But but but!! Ponzi scheme! Should have sold to Google!
Yeah.
Groupon just went public with a market cap now 3x what Google was offering them. We’ll see if the good times last — now that they’re public, they’re going to have to show real growth in the numbers — but it’s pretty clear that either way, Groupon did the right thing in not taking that deal.
Good for them.
Notes