Facebook filed for a $5 billion dollar IPO Wednesday evening. The S-1 document filed with the US Securities and Exchange Commission revealed usage statistics like 483 million daily active users on the site, an nearly 50% increase from a year ago. The company made a billion in profit in 2011, up from about 600 billion in 2010. Among some of the more interesting facts in the filing are the executives pay. Founder and CEO Zuckerberg made the least in 2011, with his total compensation at about 1 and a half million dollars. Chief Operating Officer Sheryl Sandberg earned almost 31 million. Almost all of her compensation was from stock awards.

Analysts say that the money raised from the IPO will empower Facebook to mount a more serious challenge to Goolgle. And a better search function for Facebook could help it increase its share of advertising dollars. Facebook is also anticipated to continue to make itself a friendlier ecosystem for 3rd party apps.

Nick Barber, IDG News Service.