Facebook prepares to go public

Written by Will Smith - Posted on Sunday, 29 January 2012 07:08

Finally, Facebook is going public ... experts claim they will raise around $10bn. It's a nice amount and it should cover the cost of buying start-ups, patents and other technologies, which Facebook needs to survive the next decade.

"Facebook will begin the process of becoming a publicly-listed company this week, valuing the social networking site at between $75bn (£48bn) and $100bn, reports suggest.

The company plans to file papers with the US financial watchdog on Wednesday, according to the Financial Times and the Wall Street Journal. The flotation later this year would raise about $10bn, they reported. This would be one of the biggest share sales seen on Wall Street.

It would dwarf the $1.9bn raised by Google when it went public in 2004. It would still, however, be some way short of the $20bn raised by carmaker General Motors in November 2010."

Source: BBC

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