Facebook Taps Fenwick & West To Assist With $5B IPO

Law360, New York (February 1, 2012, 7:34 PM EST) -- Facebook Inc. filed for a $5 billion initial public offering Wednesday, selecting Fenwick & West LLP as counsel, and telling investors it raked in more than $1.1 billion in the fourth quarter of 2011 alone.

The Menlo Park, Calif.-based social networking behemoth, which told the U.S. Securities and Exchange Commission in its IPO filing that it has 845 million active users, said the overwhelming bulk of its revenue — which generated $1 billion in profit last year — comes from advertising.

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