Facebook is the latest craze among the generations and it has crossed all regions, sex, race and age barriers. it is progressing as people are working for it round the clock. Now comes the hot news about Facebook which people have been waiting to listen with bated breath.
Facebook, the world's largest Internet social networking engine, is preparing for a initial public stock offering the following year, in accordance with a source acquainted with the matter.
Facebook is exploring raising $10 billion, the Wall Street Journal said on Monday. It hopes the offering will value the corporation at greater than $100 billion, in accordance with WSJ, which first reported the storyline.
Facebook's Chief Financial Officer, David Ebersman, had discussed a public float with Silicon Valley bankers but founder and Chief Executive Officer Mark Zuckerberg had not selected any terms and the plans could change, the Journal said.
The social networking site, which now claims greater than 800 million members after seven years of explosive growth, has never selected bankers to handle what would be an exceptionally closely watched IPO. However it had drafted an internal prospectus and was ready at any moment to pull the IPO trigger, the Journal cited people acquainted with the matter as saying.
At $100 billion valuation, the firm started by Zuckerberg within a Harvard dorm room is sure to have double the valuation of Hewlett-Packard, the Journal said.
An official S-1 filing could come prior to the end of the year, though nothing was decided, the newspaper added.
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