Facebook going public Wednesday, Wall Street Journal reports
Posted January 27, 2012 3:08 pm.
This article is more than 5 years old.
Facebook will be filing its initial public offering this coming Wednesday, The Wall Street Journal reports.
The Wall Street Journal cited unnamed people familiar with the matter, said Friday that the social-networking company could raise as much as $10-billion in an offering that would value the company at $75-billion to $100-billion.
Either measure would dwarf the $1.67-billion raised in Google’s 2004 IPO. That offering gave Google a market value of $23-billion. Google is now worth $184-billion.
Facebook’s expected launch as a publicly traded company is the most hotly anticipated tech IPO in more than a decade. It would vault it into the top ranks of the largest public companies in the world, on par with the likes of McDonald’s Corp., Amazon.com Inc., Visa Inc. and Bank of America Corp.
CEO and founder Mark Zuckerberg, 27, is already considered a billionaire because of shares traded on a closed market.
Facebook spokesman Larry Wu said the company will not comment on IPO-related speculation.
