Goldman Sachs' (GS
) offering of shares in privately held social networking giant Facebook are in hot demand, as one might expect. But investors may have been surprised to see the company's 2009 key financial metrics, rather than any figures from last year. According to a report
in the Wall Street Journal,
Facebook pulled in $777 million in revenue and $200 million in net income.
Folks watching and waiting for a Facebook IPO were likely familiar with the revenue figure, which already began showing up in published reports earlier this year as approximately $800 million
. The net income figure, however, has been more elusive.
It's not immediately clear why the 2010 revenues and net income figures are not available, at least for the first nine months of last year. But the lack of those figures didn't seem to hold back Goldman clients, partners or business associates like hedge funds, private-equity firms or institutions from jumping into the fray, according to the Journal.
Goldman expects to stop taking orders Thursday and has informed some investors they'll be receiving only a portion of their requested shares.
Goldman's offering gives Facebook a valuation of $50 billion
, or a steep price of over 50 times sales. In the meantime, people over at Facebook say the company has no plans for an IPO before 2012
-- if then.