Duff's Device

User Base

Total Users active 6 out of 7 days during Dec 2011: 360 million

Total Daily Active Users: 483 million (57% vs. 54% on the back of mobile usage)

Total Mobile Monthly Active Users: 425 million 

US: 161 million MAUs

India - 46 million MAUs

Brazil: 37 million MAUs

Penetration rate: 20-30%

Total MAUs: 845 million

Other Stats

250 million photos/day uploaded in 3 months ending Dec 2011.

Employees: 3200

Financials

Ad Revenue (million): $ 3,154 (Quarterly: $637, $776, $798, $943)

Payments Revenue (million): $ 557 (Quarterly: $94, $119, $156, $188)

Total Revenue (million): $ 3,711

Net Income (million): $1,000

Zynga accounts for 12% of Total Revenue (2011)

Payments Revenue recognition only on purchase of virtual goods by user. (Net of payments to partners)

Market Opportunity 

1. Advertising (TV, Print, Radio): $363 billion (2010) (62% of advertising spend)

For e.g. Advertisers can reach 65 million US users on any given day. 2011 Season finale of American Idol reached 29 million users. (This obviously is comparing apples to oranges.)

2. Online Advertising: $68 billion (2010)

Display Advertising: 9.7 billion minutes spent/day on FB on a computer

3. Payments: $7 billion (2010)

Compensation

“Mr. Zuckerberg’s base annual salary was $500,000 (not incl. Bonus). Effective January 2013, Mr. Zuckerberg’s base annual salary will be reduced to $1.”

Voting Agreements

“Zuckerberg holds authority and irrevocable proxy to vote on behalf of most preferred stock holders.”

Capital Structure (% Class A Shares, % Class B Shares, % Voting Rights)

Mark Zuckerberg 36.1  57.1  56.9 (CEO)

Sheryl Sandberg    -      *       * (COO)

David Ebersman    -      *       * (CFO)

Mike Shroepfer      -      *        * (VP Eng)

Theodore Ullyot     -      *        * (General Counsel)

Marc Andreesen     -      *       *

Erskine Bowels       -      *       *

James Breyer          -      11.4 11.4 (Accel)

Donald Graham      -      *       * (Washington Post)

Reed Hastings        -      *       * (Netflex)

Peter Theil              -      2.5    2.5

Accel Partners        -       11.4  11.4

DST Global             31.4  5.4    5.4

Dustin Moskotiz     -       7.6     7.6

Goldman Sachs       56.3   *       *

T. Rowe Price          5.2     *       *

* Less than 1%     

For pricing RSUs and stock options, “we conducted valuations of our Class B common stock at the end of each quarter.” The valuations took into account DCF, Guideline Public Company and Market Transactions.

Q12011: $25.54

Q22011: $30.07

Q32011: $30.07

Q42011: $29.73

Based on total shares outstanding, and adjusting for RSUs and options, FB’s valuation at the end of Dec 2011 sits at  $75.4 billion.