Facebook files for highly anticipated IPO

There were some surprises, too, such as the fact that advertising accounted for about 85 percent of the revenue and that Facebook relies on one big customer, social games maker Zynga Inc. of San Francisco, for about 12 percent of its income. [...] Facebook noted that one of its biggest risks is one of its initiatives, a push to develop the Facebook platform for smart phones and tablets, because it hasn't figured out how to profit from advertising on mobile devices. Other figures in the filing that are bound to feed the frenzy making this the most hyped, head-spinning, eyebrow-raising public stock offering of any Internet company since Google in 2004 - the number of monthly active users grew by 39 percent last year to 845 million, nearly half of the world's 2 billion people who are online. 'Pandemonium' for IPOThe hype surrounding Facebook is so great that even the act of registering for an IPO with the Securities and Exchange Commission, done after the stock market closed Wednesday, became one of the most anticipated tech moments in recent years. Investor interest has already reached "pandemonium" proportions, said Scott Sweet, senior managing partner of the advisory service IPO Boutique. Facebook "will almost certainly pop on the open and remain above the $100 billion valuation mark at least for some time, as small investors familiar with the popular brand bid up the company's stock in relatively small lots, regardless of valuation," said PrivCo President Sam Hamadeh. The IPO filing is a major milestone for a company that Chief Executive Officer Mark Zuckerberg co-founded in his Harvard University dorm room on Feb. 4, 2004. First day of trading: First day of trading: First day of trading: First day of trading: First day of trading: