Here the link to Facebook’s IPO (Initial public offering) filing, a very interesting read:

To keep investors informed an IPO filling has to contain details about the business and possible risks which have been reported by every news outlet today, e.g. Reuters. But most articles are missing the technical details and risks.

So are they are afraid of problems with their infrastructure like network outages or spam bots? Seems they are:  “Computer malware, viruses, hacking and phishing attacks, and spamming could harm our business and results of operations”. “Our systems may not be adequately designed with the necessary reliability and redundancy to avoid performance delays or outages that could be harmful to our business”. They are also worrying about “increasing costs, in particular for servers, storage, power, and data center”. * “Our expenses may be greater than we anticipate, and our investments to make our business and our technical infrastructure more efficient may not be successful”*.

Then there is also the risk of a possible data breach: “Our efforts to protect the information that our users have chosen to share using Facebook may be unsuccessful due to the actions of third parties, software bugs or other technical malfunctions, employee error or malfeasance, or other factors”.

Upon first reading this it sounds like Facebook has major technical issues and will soon be offline; Investors cannot say they have not been warned. But to be honest the mentioned problems are common to every company nowadays and even at home you have to fight viruses, malware and technical malfunctions. It’s kind of refreshing to hear that also a huge budget cannot solve these common IT problems.