SEC Expressed Mobile Concerns To Facebook In Pre-IPO Communications

The Securities and Exchange Commission expressed concerns about how the explosion of mobile users would affect Facebook’s revenue in a letter from SEC Assistant Director Barbara C. Jacobs to Facebook Chief Financial Officer David Ebersman Feb. 28, well in advance of the social network’s May 18 initial public offering.

The Securities and Exchange Commission expressed concerns about how the explosion of mobile users would affect Facebook’s revenue in a letter from SEC Assistant Director Barbara C. Jacobs to Facebook Chief Financial Officer David Ebersman Feb. 28, well in advance of the social network’s May 18 initial public offering.

CNET reported the release of the pre-IPO correspondence between the SEC and Facebook, saying that communications such as this are typical prior to an IPO.

On the subject of mobile, Jacobs wrote to Ebersman:

Your statement that users “could decide” to increasingly access your products primarily through mobile devices appears to contradict the first part of this risk factor.

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