Facebook Filing IPO As Early As Next Week
Facebook is said to be filing their IPO as early as next week according to a new report. The social network has been gearing up for it’s inevitable IPO this year that is expected to raise up to $10 Billion and put a valuation of up to $100 Billion on the almost 8 year old service.
With how things have been going and with them nearing almost 1 Billion users, the time is right. Revenue is pouring in from their ad platform and hundreds of Millions of people are using the site on a daily basis. In fact, they were said to have generated over $4 Billion in revenue just last year.
Once they do go public, they’ll have to start disclosing that kind of information.
“Facebook Inc. could file papers for an initial public offering as early as next week and is currently looking at a deal that would value the social network between $75 billion to $100 billion, said people familiar with the matter.”
“The Internet giant is close to picking Morgan Stanley as the lead underwriter for its IPO, these people said, giving the investment bank one of Wall Street’s most coveted assignments. It would mark a setback for rival Goldman Sachs Group Inc.”
With a lot of money invested into the social network, a lot of people are soon enough going to make a lot of money. Even the state of California is expected to rake in hundreds of Millions of dollars thanks to capital gains taxes. The time is right and 2012 is definitely the year for them to go public.
How often would you say you use Facebook on a daily basis?