backtop


Print 24 comment(s) - last by deathwombat.. on May 16 at 3:47 PM


  (Source: tips4makemoneyonline.com)
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.


Source: Reuters



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Over valued
By GotThumbs on 5/15/2012 1:47:48 PM , Rating: 2
PASS.

This is a great opportunity for Zuckerman to grab for the money.

Facebooks single key asset is huge....if you are interested in tapping in to the worlds single largest marketing pool.

Since I don't FB, I'm not really interested. I see FB going the way of AOL neighborhoods and ICQ. Twitter is just another incarnation of AOL IM.

The "new" trend in "Cloud" computing is also old news...Google docs and for those of us with personal home servers...its very old news.

The general consumer population is just playing catch up to where many DailyTECH readers have been for some time.


"It seems as though my state-funded math degree has failed me. Let the lashings commence." -- DailyTech Editor-in-Chief Kristopher Kubicki














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki