Facebook files for $5 billion IPO

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Groundhog Day?

NEW YORK (CNNMoney) -- At long last, the Holy Grail of Internet IPOs is here. Facebook filed Wednesday to raise $5 billion in an initial public offering.

In 2011, Facebook earned $1 billion on sales of $3.7 billion. As of December 31, Facebook had 845 million daily active users.

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It's not yet known on which stock exchange Facebook will trade, or what its ticker symbol will be.

Facebook will likely re-file its paperwork several times over the coming months. Those updates will add more details and could even restate some of the financial information detailed in Wednesday's filing.

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Find the story here:
http://money.cnn.com/2012/02/01/technology/facebook_ipo/index.htm

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1. Is anyone here jumping in to buy?

I'll always regret that I didn't jump in for Google's IPO.

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2. Don't buy. Google+ will kill Facebook...

Kidding. Google+ sucks just as much as Facebook, but Facebook owns the space.

I'm hoping that there is something out there that will come along and kill them both.

Impossible? How's MySpace doing?