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A week after Facebook’s IPO debuted, Mark Zuckerberg and company reports that it’s entering the smartphone market.
The “Facebook-phone”, codenamed “Buffy”, would run on Android, although Facebook has already hired more than a dozen former Apple iPhone developers. Read More

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Facebook disclosed on Monday that it has 901 million users, making it likely that it will pass the 1 billion mark well before the end of the year.

The company, which dropped the stat in its amended S-1 filing, also notes that its network receives 3.2 billion comments per day and 300 million new photos daily. The site also claims 125 billion friendships. Of the 901 million figure, 526 million were described as daily active users in March. Some 488 million people also used Facebook mobile products that month, according to the filing.

When Facebook filed its IPO paperwork with the SEC in February, the network tallied 845 million users. Back in January, Gregory Lyons, a senior analyst at iCrossing, estimated that Facebook would hit 1 billion users by August, a rate of growth that appears plausible based on the latest numbers.

Even before Monday’s latest numbers dropped, Facebook was by far the largest social network in the world. Twitter, which passed 500 million users in February, is number two on the list — although Twitter says that only 140 million of those accounts are active.

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Facebook is not waiting for its initial public offering to make its first big purchase.

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The social network has acquired Instagram, the popular photo-sharing application, for about $1 billion in cash and stock, the company said Monday. In a Facebook post on a profile page, the company’s chief, Mark Zuckerberg, said he planned to build Instagram independently from the social network. The move will allow users to post on other social networks, follow users not on Facebook, and to opt out of sharing on Facebook.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Mr. Zuckerberg wrote. “Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”

Mark Zuckerberg, the chief executive of Facebook, which is expected to go public next month.
Facebook announced today that it has reached an agreement to acquire Instagram, a fun, popular photo-sharing app for mobile devices.

The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.

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No matter how much money Carlos Slim, Bill Gates, and Warren Buffett have, there’s one thing they can’t buy: youth. There are an elite few who want for neither money nor time, youngsters in their 20s and 30s who have already amassed or inherited more money than they could hope to spend in a lifetime.

The youngest billionaire in the world is 27-year-old Dustin Moskovitz, Facebook’s third employee. Moskovitz was a roommate of Facebook founder Mark Zuckerberg, who happens to be only 8 days older. The duo dropped out of Harvard and moved to Silicon Valley together to launch the fledgling social network. Now a world-wide phenomenon, Facebook is set to IPO in 2012, which could further boost the fortunes of the two youngest billionaires.

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Facebook announced on Wednesday via its filing for an initial public offering (IPO) how the company fared in 2011, and not surprisingly, its employees racked up (and spent) big GWOP money last year.

The Facebook IPO provided details about the base salary of the team, including founder Mark Zuckerberg pulling in a salary of $483,333, plus a $220,500 bonus and “other compensation” worth $783,529.

The filing noted that he spent nearly $700,000 for costs related to private plane use “chartered in connection with his comprehensive security program and on which family and friends flew during 2011.” That includes passenger fees, fuel, crew and catering costs. Another $90,850 of that amount was for “costs related to estate and financial planning.”
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In February of 2004, a nerdy jewish kid from Harvard had an idea that would ultimately change the world.  Mark Zuckerberg was an undergraduate at Harvard University when he created TheFacebook, now known worldwide as Facebook.com.

In 2012, you can’t go shopping, on vacation or even out to eat with out seeing a Facebook advertisement.  Your mom, dad, sister, cousin, uncle, aunt and family dog all have a Facebook account.  Some babies are even posted on the popular website before the baby father is revealed or even before the kid has a name.  With all this attention the popular social networking site,  Facebook is going public valuing the website at $100 Billion Dollars!  Wowzers! Thats enough GWOP money to bake biscuits for the whole projects!!!!!

Checkout the Facebook timeline to IPO after the jump.

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