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Topics covered in report:
  1. Overview
  2. Business Model(s)
  3. Announced Business Model Additions – F8 Conference
  4. Scale
  5. Management Team
  6. Investors And Valuation
  7. Summary Of Ownership Table (Estimated)
  8. Board Of Directors
  9. Management Equity/Commitment
  10. Selected Acquisitions And M&A Risk Assessment
  11. Acquisition/Partnership/Investment/ Integration Opportunities
  12. Product/Technology/Platform
  13. SWOT Analysis
  14. The China Threat
  15. Porter Competitive Analysis
  16. Industry Growth
  17. Selected Competitors
  18. Cursory, Long Term Valuation Thoughts And Valuation Comparables
  19. MidasLP Accredited Investor Form
Founded in February 2004, Facebook is a privately-owned social networking platform that helps people and companies communicate, socialize, understand, engage and transact more efficiently and effectively with friends, family, coworkers, employees, customers and relevant targets. Users may create a personal profile, integrate with third party technology applications, develop business and consumer technology solutions, add other users as “friends”, exchange messages and engage in certain “social” activities. Facebook is one of the world’s largest web platforms. According to Facebook, as of September 2011 there are over 800 million active users and an estimated 138.9 million monthly unique U.S. visitors. We also estimate that Facebook is the dominant social network in over 100 countries. According to Royal Pingdom, Facebook has as many users today as the whole internet had in 2004. The majority of Facebook revenues are driven by US display ads. Facebook accounts for one of every three display ads in the US, making it the largest US display advertiser (larger than Yahoo and Google). 2011 US display ad revenues are independently forecast at around $2.2 billion with global ad revenues of $3.8 billion and total projected company revenues of over $4.3 billion. Facebook also earns significant revenues through Facebook Credits, a virtual currency that enables people to purchase items in games and non-gaming applications on the Facebook Platform. Facebook retains 30% and developers get 70% of all revenue earned through Credits. According to Reuters, Facebook experienced an impressive 30% profit margin during the first half of 2011. For comparison, technology giants like Microsoft and Google have over 33% profit margins, while LinkedIn has a profit margin of 4.43%.
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