This IPO is based as much as the 'dream' of what FB can be than what it is.
Here's something to think about: FB investments pre-IPO: $2.4 Billion, Google investments pre-IPO: $25MM. Google's IPO was much smaller ($25B market cap if I recall) but Google was financially a stronger company when it went public.
Therefore cue music and grandiose mission statements. Wait, Facebook will get to that 18 P/E ratio when?
Here's something to think about: FB investments pre-IPO: $2.4 Billion, Google investments pre-IPO: $25MM. Google's IPO was much smaller ($25B market cap if I recall) but Google was financially a stronger company when it went public.
Therefore cue music and grandiose mission statements. Wait, Facebook will get to that 18 P/E ratio when?