In its S1 filling Facebook has revealed plans to focus more on online payments. Currently, payments on Facebook are only limited to gaming applications, where users pay money to buy virtual goods or status. According to the filling, Facebook intends to expand these payment options to other areas. The company’s payments business has started to make a considerable contribution since July 2011 when Facebook Credits became mandatory for all online games developers who accepted money.
In addition to online payments, Facebook will also take into account the shift from desktops to mobile devices. For now, the company does not serve up ads on mobile platforms.
According to the paperwork submitted, Facebook has reached 845 million active monthly users and in 2011 has seen its revenue reach USD 3.71 billion, with USD 1 billion profit, almost double as compared to 2010. Currently, the company has USD 3.9 billion in cash on hand. In 2011, Facebook pulled in revenues of USD 557 million from its payments business
The IPO paperwork has also unveiled Facebook’s alliance with games developer Zynga, which accounted for 12 percent of the social networks total revenues in 2011.
The social network has filed the documentation with the US Securities and Exchange Commission (SEC) and it will sell its shares publically under the stock symbol of “FB”.
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