Facebook opens its books for historic IPO

week in review Filing gives first look at Facebook's financials, while Windows 8 details leak out. Also: Sony gets a new CEO.

Facebook filed papers for its initial public offering and in the process provided us with the secrets to its success--as well as what it sees as its greatest threats.

The company filed an S-1 form with the Securities and Exchange Commission, officially declaring its intention to raise $5 billion through the IPO. The last major tech IPO was Google's, which raised $1.9 billion.

Last year, it saw revenue double to $3.7 billion, while its profit grew 65 percent to $1 billion. Over the past two years, its revenue rose nearly fivefold, while its profit more than quadrupled.

In stating the risks facing the social network, Facebook warned that the company could be hurt by the loss of advertisers if user engagement and activity declines. Also, the company doesn't have display ads in its mobile app, and could be hurt if more users check into Facebook through their smartphones. Other risks included government actions in different countries, new products and services failing, and a slowing rate of growth over time.


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Sony replaces CEO Stringer with electronics group leader

Kazuo Hirai, who led Sony's PlayStation gaming business and more recently took over a growing electronics group, is now chief executive.
•  Why Sony needed to swap out its CEO

Windows Phone 8 details reportedly leak

On tap for the next version of Microsoft's smartphone platform: support for different processors, screen sizes, microSD storage, NFC, business support, Windows 8 integration, and more.
•  Will Windows 8 ARM devices offer a limited desktop interface?
•  Feedback prompts Windows 8 file management tweaks

Feds: We obtained MegaUpload conversations with search warrant

How did the feds acquire all those MegaUpload conversations? There are hints that the FBI managed to place government-issued spyware on the defendants' computers.
•  Nobody wanted MegaUpload busted more than MPAA
•  Reprieve: MegaUpload's data safe for two more weeks

Obama wants Hollywood, Silicon Valley to 'come together' on SOPA

During a Google+ hangout aired on YouTube, the president stops short of saying he opposes a pair of controversial Hollywood-backed copyright bills.
•  How Republican opposition derailed SOPA and Protect IP
•  SOPA support gets UFC president hacked

China Telecom reveals upcoming launch of iPhone 4S

The phone may begin selling on China's third largest carrier as early as late February or early March, the company says in a press release cited by China Daily.
•  China carrier deal could mean 40M extra iPhones in 2013

Petition tells Apple: We want an 'ethical' iPhone 5

A watchdog group is calling on Apple to demand improvements from its suppliers ahead of releasing its next iPhone. The group says it's already brought in 35,000 signatures.
•  Trump to Apple: Make it here
•  Apple dealt legal setbacks by Motorola in Germany

Google now scanning Android apps for malware

New service scans apps for malicious code or behavior and bounces them if they are suspect.
•  Dubious Android apps may not be malware--just ads
•  HTC patching Wi-Fi password leak on several smartphones

Feds seize illegal sports-streaming sites

Just in time for Super Bowl Sunday, the federal agents announce they have seized and shuttered 307 Web sites that either live-streamed sports or sold fake NFL paraphernalia.
•  Angry Birds CEO sees opportunity in piracy
•  Swedish high court scuttles Pirate Bay appeal

Also of note
•  Telecom monopoly overcharging Mexicans billions
•  Teen finds bugs in Google, Facebook, Apple, Microsoft code
•  Apple CEO Tim Cook donates $100 million to charity

 

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