FACEBOOK’S IPO FILING IS HERE

Facebook just filed an S1 with the SEC announcing its intention to sell shares to the public.

The filing contains all sorts of long held secrets about the company.

We’re going through it now, and updating this post with anything remarkable we learn.

QUICK TAKE:  Facebook’s ad business is not growing as fast as you’d like, but rates are going up, even as inventory soars, and that’s reassuring.  The payments business – the way Facebook makes money off FarmVille, etc – grew 500% in the past year, too. Holy cow: Zuckerberg is rich.