Reuters first with Facebook's latest financials

Facebook’s $1.5 billion private financing arranged by Goldman Sachs was one of the most competitive stories of the week, with every media outlet trying to carve out its own niche. Reuters was first to report Facebook’s latest profit and revenue figures on Jan 6, tapping sources who had seen the 101-page offering document from Goldman. The financials showed the world’s largest social networking site was generating profits at a faster-than-expected rate, even as investors questioned if Facebook was worth the $50 billion valuation that Goldman was demanding. The scoop follows another exclusive earlier in the week on Jan 4, when Reuters was first to report the boiler room tactics that Goldman was employing to drum up interest in Facebook. Goldman clients told Reuters they were concerned that they did not have enough time and financial information to decide on committing a minimum of $2 million a piece. Reuters followed that story with one of the most comprehensive analyses yet on how Facebook was testing the walls between private and public markets, a story that identified the regulatory issues that the U.S. Securities and Exchange Commission would have to wrestle with.