Facebook officially announced on Wednesday via its filing for an initial public offering (IPO) how the company fared in 2011. The filling provides more insight on the company's revenue, reporting a $1 billion profit last year on revenues just over
$3.7 billion, an 88% increase in revenue over the previous year. The company currently has two other main sources of revenue: advertising, and partner payments from apps
that sell things on the Facebook platform.
While it might not be the first social networking site to go public, it is by far the largest since Google, and targets to raise around $5 billion. There's no doubt it will reach goal, seeing as it has 845 million active users (483 million of whom return to the site daily).
Nike unveiled the "Blorange" model of the Terra Kiger 2, featuring colorful engineered mesh and Dynamic Flywire technology. Finished with orange laces and a bold Swoosh at its vamp, it is now available from KITH for $125 USD. Read more
Nike Kobe 9 EM Premium is launching three new colorways this week. The “Gorge Green,” “Gym Red,” and “Game Royal,” will sport a geometric fade pattern layered over the Engineered Mesh uppers. It'll be available on September 5. Read more