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Three Headwinds for Facebook's IPO

Harvard Business Review

When I logged into the site for the first time in the spring of 2004, I was prepared to hate the service. According to ComScore, at the end of 2011 Facebook accounted for a shocking 28% of U.S. When Google IPO'd in 2004, the company's advertising business had tailwinds; internet penetration was only at around 68% in the U.S.

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