• The Wall Street Journal, Thursday, January 6, 2011 1:16 PM

Despite several billion dollars in an equity offering likely to reach $1.5 billion, Goldman Sachs doesn't have nearly enough Facebook shares to go around. The Wall Street Journal likens the situation to "the technology bubble of the late 1990s when online-grocery seller Webvan Group Inc. and other upstarts with far shorter track records than Facebook sold stakes to investors."

Furthermore, The Journal calls Goldman's predicament "a sign of investor fascination with the closely held social-networking company despite a dearth of available information about its operations and financial condition." According to people familiar with a stock-offering document, Facebook had net income of $200 million in 2009 on revenue of $777 million. Due to its shortage of Facebook equity, Goldman is expected to stop taking orders for shares of Facebook on Thursday, and has told some would-be investors to expect far fewer shares than they originally requested, sources tell The Journal.

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