Facebook IPO (Initial Public Offering); What is it for?
Facebook is preparing to launch its initial public offering (IPO) this week. That's great for the handful of people who are set to kick off their weekend as Internet billionaires, but how might this affect the average user?
An IPO doesn't automatically result in major changes at a company. In the last year, we've seen IPOs from companies like Groupon and Yelp and LinkedIn, and for the most part, users are still buying deals, looking up restaurant reviews, and updating their online resumes as normal.
But an IPO can result in an infusion of cash that could help a company pursue projects that might previously been on the backburner due to financial reasons. Basically, Facebook will have some new options and might make decisions that trickle down to you, the user.
What type of moves should Zuck & Co. make? We polled PCMag staffers about what, in an ideal world, they hope Facebook will and won't do in a post-IPO world, and here are some of their thoughts.
Improved Search: "I'd like to see a way that you can search your news feed," one PCMagger said. "So if you wanted to search for a certain term it would bring up all the status updates from you and your friends mentioning that term." Various search engines have incorporated results from social networks like Facebook and Twitter, but improved search functionality within Facebook would be appreciated.
Privacy by Default: In recent years, Facebook has altered its privacy policy several times, giving users more control over their data. But certain things are always public. Making everything completely private defeats the purpose of the site, CEO Mark Zuckerberg argued back in 2010. The point of Facebook is "to help people share information and be able to find and connect with each other," he said. Various consumer groups have tried unsuccessfully to get Facebook to reverse course on that, and a few PCMaggers hope it will. Can some ornery investors help push that along?
No Subscription Fees: With more than 900 million users, many of whom interact with the service on a regular basis, it would be tempting to drum up some revenue by charging for access. Last year, amidst the rollout of Timeline, there was a rumor that Facebook would ask for payment. In response, however, Facebook said it has "no plans to charge for Facebook. It's free and always will be." Let's hope they stick to that promise.
Farewell, Social Readers: Facebook last year rolled out apps across its network from companies like Spotify, Hulu, and Yahoo. If granted permission, those apps share with your friends what you're listening to, watching, or reading. But if a friend reads an interesting article on The Washington Post via these "social readers" and its shows up on your newsfeed, you need to install the Post's app before reading the article yourself. Personally, I find this incredibly annoying (as do others), and a workaround that doesn't require the installation of an app would be welcome.
Tagging. Ugh: We all have that friend who photographs every social event and tags each and every picture, no matter how unflattering. One PCMagger really hopes you'll just stop with that nonsense. High on her wishlist is "being able to stop people from tagging me in images if I don't want to be tagged." Facebook has controls that allow you to approve tags before they appear on your Timeline and you can remove tags you don't like, but is there a tagging-free Facebook in our future? All signs point to no.
Hoodies 4 Eva: "I don't want to see Zuck in suits!" one staffer wrote. Earlier this month, as Facebook conducted its roadshow, one investor criticized Mark Zuckerberg for wearing his trademark hoodie rather than a more Wall Street-appropriate suit. So far, however, there's no sign of a fashion awakening, and at least one PCMagger hopes Zuck sticks to his guns and doesn't spend his billions on custom suits.
Sources http://preview.pcmag.com
