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Facebook IPO will create hundreds of new millionaires

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Facebook has become so addictive that more than half its audience — 483 million users — log in every day.

Facebook's revenue total disappointed some people who pored through the documents. One reason: The company generates about $4.39 in revenue per user. "That is a surprisingly low number," said University of Notre Dame finance professor Tim Loughran, who studies IPOs. Google's annual revenue of nearly $38 billion works out to more than $30 per user of its services.

"Facebook needs to find more ways to get revenue from their users," Loughran said.

Facebook listed its most promising expansion opportunities as Brazil, Germany, India, Japan, Russia and South Korea. The company, based in Menlo Park, Calif., eventually hopes to make its service available in China if it can navigate rules requiring online content to be censored if the Chinese government considers it to be objectionable or obscene.

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