Facebook to Raise $10 Billion for 2012 IPO; Company Value Could Double HP's
November 29, 2011 12:07 PM
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Facebook CEO Mark Zuckerberg
Facebook hopes to be valued at $100 billion
While many details are still up in the air, it has been revealed that social networking giant Facebook is anticipating a 2012 initial public offering.
Facebook, which has achieved 800 million users in its mere seven years of existence, is considering raising $10 billion in hopes of the company being valued at $100 billion, according to
Sources close to the talks told
The Wall Street Journal
that Facebook has drafted an internal prospectus and that a S-1 filing could come before the end of 2011.
Also, Facebook's Chief Financial Officer David Ebersman has discussed the IPO with Silicon Valley bankers. However, Facebook CEO Mark Zuckerberg has not decided on any bankers to manage the IPO. Zuckerberg also hasn't made any final decisions on terms.
Many previously thought Facebook would go public in 2011, but a shaky economy and a
battle with the U.S. government
over privacy-related issues has
pushed the IPO until 2012
The IPO looks to be a good move for Facebook, as it would allow the social beast to make more acquisitions, work on new projects, and attract more engineers.
In the first six months of 2011, Facebook reported $1.6 billion in company revenue. With a potential company value of $100 billion, Facebook would double the valuation of Hewlett-Packard.
This article is over a month old, voting and posting comments is disabled
12/1/2011 12:35:08 PM
If you buy a share of Facebook you are dumb. That will be the overhyped stock in all of history... for a fad that has been fading for a long time now. Facebook was so 2010.
"When an individual makes a copy of a song for himself, I suppose we can say he stole a song." -- Sony BMG attorney Jennifer Pariser
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