SEC spooked by Facebook's pre-IPO mobile numbers
The Securities and Exchange Commission's pre-IPO correspondence with Facebook makes it clear that the regulatory body seemed quite concerned with the impact mobile growth could have on its operation.
"Assuming that the trend towards mobile continues and your mobile monetization efforts are unsuccessful, ensure that your disclosure fully addresses the potential consequences to your revenue and financial results rather than just stating that they 'may be negatively affected,'" the SEC wrote to Facebook back in February after a review of the company's S1 Registration statement filed with the government body.
Facebook's mobile efforts have been … Read more