By Nitasha Tiku 2/02/12 1:45pm

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Day After Facebook IPO, Facebook.com Appears to Be Having Some Problems [Updated]

A tipster wrote into Betabeat this afternoon to complain about not being able to get into the social network. You know the one? With a valuation in the the neighborhood of a $100 billion and a fancy new IPO filing? “Facebook is so slammed with traffic it’s basically nonfunctional #ipoday,” the source kvetched, adding, “It’s taking forever to load and won’t like, work. search etc.” In the past twenty minutes, Betabeat has failed to even log on to Facebook three times, before finally getting through. A quick search for “Facebook slow” on Twitter reveals we’re not the only ones: Read More

By Nitasha Tiku 2/02/12 11:32am

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via davechoe.blogspot.com

Facebook Graffiti Artist May Be Worth $200 M, Is Pals With Porn Star Sasha Grey [VIDEO]

Charlie Ayers, better known as the “Google Chef,” is a popular reference point in IPO chatter because his stock options earned him a life-changing $26 million. Well, the New York Times has just uncovered the Facebook equivalent: graffiti artist David Choe.

Yes, the same David Choe who covered the office of Facebook’s first Silicon Valley office with erotic art. In fact, noted art appreciator Sean Parker encouraged Mr. Choe to “go crazy and draw as many giant ‘cocks’ as Choe wanted.”

Shares owned by the artist could be worth “upwards of $200 million” when Facebook goes public, based on the company’s $75 billion to $100 billion valuation. That could be more than Damien Hirst’s record-holding $200.7 million Sotheby’s auction in 2008. Read More

By Adrianne Jeffries 2/01/12 5:35pm

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Mr. Allen. (Ted Thai / Getty Images)

Allen & Company Was the Only Facebook Underwriter Reporters Couldn’t Figure Out

Facebook’s S-1 filing is out, and almost all the early reports were true. The company has reserved the ticker symbol FB, although it has not announced on which exchange it will debut; the working number is $5 billion and the lead underwriter is Morgan Stanley.

Reporters were also able to sniff out four other banks working on the IPO: J.P. Morgan, Goldman Sachs, Bank of America and Barclay’s Capital. But one underwriter slipped through: the boutique New York-based investment bank Allen & Company, which puts on the annual Sun Valley conference that regularly attracts billionaires and media moguls.  Read More

By The Editors 2/01/12 5:32pm

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Mr. Breyer.

We Read Facebook’s S-1 Filing So You Don’t Have To

IT’S FINALLY HEEEEEEEEEEEEEREEEEEEEEEEEEEE!!! Here’s what we learned:

Voting rights:

Mark Zuckerberg has 28.2 percent voting power, pre-IPO based on personal shares: 28.4 percent of class B shares. But that’s not all. “As a result of voting agreements with certain stockholders, together with the shares he holds, Mark Zuckerberg, our founder, Chairman, and CEO, will be able to exercise voting rights with respect to an aggregate of shares of common stock, representing a majority of the voting power of our outstanding capital stock following our initial public offering.” Altogether, that gives him majority control with 57 percent voting rights. Read More

By Foster Kamer 2/01/12 5:14pm

YOU KNOW WHAT'S AWESOME? A BAZILLION DOLLARS.

eduardo oh eduardo

Facebook Founder Eduardo Saverin on Facebook’s IPO: ‘What a Ride!’

Facebook is going to become a stock you can invest in as of today. If you haven’t already heard this news, you probably don’t even know what Facebook is (in which case: How’d you get here?).

Either way, Eduardo Saverin—the press-shy founder of Facebook who was famously ousted from the company in its early days, thus giving The Social Network a plot and Saverin a decent-sized cash settlement—has spoken on the matter of the Facebook IPO… Read More

By Adrianne Jeffries 2/01/12 12:31pm

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(facebook.com)

Zynga: Investors Only Really Have Two Things to Worry About With Facebook

Zynga mentioned Facebook 204 times in its S-1 filing. Zynga’s fortune is Facebook’s fortune, so we wondered, what keeps the game maker up at night? Zynga had plenty of concerns about its dependency on Facebook: terms of service changes, changes to the credits policy, changes to the way it can communicate with Facebook users, and fear of being booted from the platform.

Of course, the ultimate worst case scenario: Zynga fails if Facebook fails.