Facebook IPO Exceeds $100 Billion Mark
May 15, 2012 10:37 AM
Facebook is now looking to raise about $12 billion
Facebook's $100 billion initial public offering (IPO) was already set to be one of the largest IPO's in the tech industry, but now, the social network is looking to surpass the $100 billion mark by raising another $12 billion.
According to a filing with the U.S. Securities and Exchange Commission, Facebook increased the price target range from $28-$35 per share to $34-$38 per share today. This values Facebook at about $93 billion to $104 billion, exceeding the $100 billion mark.
At about $36 per share, Facebook would raise $12.1 billion.
Social networking giant Facebook revealed that it was planning a 2012 IPO back in November 2011. The company was talking about
raising $10 billion
for the initial public offering. Many had previously thought a 2011 IPO was in the works, but a shaky economy and ongoing
privacy battles with the U.S. government
put everything on hold.
In February 2012, Facebook made the IPO official. The company said it was looking to sell $5 billion of its private shares and hoped to be valued at $100 billion.
The set date for the company
to go public was May 18
The social network plans to complete the IPO later today, which is two days ahead of schedule. Facebook is expected to price its shares on Thursday and begin trading under the ticker "FB" on Friday.
Facebook's IPO is the largest ever to come out of Silicon Valley. In 2004, Google raised nearly $2 billion. Last year, Groupon raised $700 million and Zynga raised $1 billion.
After the IPO is completed and Facebook begins trading, the social network plans to sell 12.3 percent of the company, or $337.4 million shares.
"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il
Facebook to Go Public May 18
May 2, 2012, 1:47 PM
Facebook to Raise $10 Billion for 2012 IPO; Company Value Could Double HP's
November 29, 2011, 12:07 PM
Facebook, U.S. Government Close to a Privacy Settlement
November 11, 2011, 10:40 AM
Google plans ultra-fast wireless Internet for Research Triangle Park, N.C.
August 12, 2016, 6:30 AM
Twitter Senior VP: "Diversity is Important, But We Can’t Lower the Bar"
November 9, 2015, 9:59 AM
CNN Resorts to Internet Censorship to Promote Clinton Over Senator Sanders
October 15, 2015, 2:47 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Quick Note: Amazon UK Offers £10 Back on Any Order £50 or Over
August 3, 2015, 12:05 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Most Popular Articles
Car Insurance - The Hidden Discriminatory Practise
October 18, 2016, 5:00 AM
Cyber Hackers Threaten Security of Lifesaving Medical Devices
October 19, 2016, 8:09 AM
8 Days to Apple's October Event
October 19, 2016, 8:22 AM
Is Razer Blade Stealth Laptop For You?
October 16, 2016, 5:00 AM
Tesla Announces Level 5 Autonomous Driving
October 19, 2016, 8:30 PM
Latest Blog Posts
Medical Council of India Makes Generic Medicines Mandatory
Oct 25, 2016, 5:00 AM
MacBoo Pro 2016: Release date Oct. 27
Oct 24, 2016, 7:16 AM
Mac Users, Try this if Your Mac is Infected?
Oct 23, 2016, 7:00 AM
Tips to Prevent Smartphones From Overheating:
Oct 22, 2016, 5:00 AM
Nasa Flies Drones at Nevada Airport
Oct 21, 2016, 8:21 AM
T-Mobile Data Problems
Oct 20, 2016, 10:17 AM
Annoying Apple Watch Problems and How to Fix Them
Oct 20, 2016, 5:00 AM
Your Mail May Soon Be Delivered By Robot
Oct 19, 2016, 9:34 AM
2018 Jeep Wrangler Prototype Sells At Junkyard
Oct 18, 2016, 5:00 AM
Samsung Shines with Gold Edition Tablet
Oct 17, 2016, 9:24 AM
Tesla Hints Mysterious Product Debut for October 17th
Oct 16, 2016, 10:14 AM
Samsung Galaxy Note 7 Phones on US flights
Oct 15, 2016, 5:00 AM
Comcast Fined $2.3 Million For Unconfirmed Services Charged To Customers
Oct 14, 2016, 5:00 AM
“American singer / songwriter “Bob Dylan is awarded 2016 Nobel Prize in Literature.
Oct 13, 2016, 10:33 AM
Battery Defect in Medical Device
Oct 12, 2016, 5:00 AM
IBM Bolsters Social Services Sector With Technology Grants
Oct 11, 2016, 5:00 AM
Scientists Sound Alarm on Climate but US Still Toys With Skepticism
Oct 10, 2016, 5:00 AM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information