Facebook S-1: The Most Anticipated IPO in a Decade ? AGILEVC
Agile VC
FEBRUARY 2, 2012
These companies report gross ad revenue but then subtract out “TAC” (Traffic Acquisition Costs) which is basically accounting-speak for the revenue share they pay to the partner sites where the ads actually appear. Facebook estimates they already have 60% of addressable US internet users. billion in cash profit last year.
100 
Let's personalize your content