AfterDawn: Tech news

Facebook preparing for IPO in May

Written by Andre Yoskowitz (Google+) @ 29 Mar 2012 12:45

Facebook preparing for IPO in May According to the WSJ, Facebook is aiming for May to go public.
The newspaper says Facebook has halted all trading of its shares on the secondary market, likely meaning it is looking to give a final count on outstanding shares.

Facebook filed for the IPO in February with the SEC.

Mark Zuckerberg and co. are expected to raise around $5 billion, giving the company a value of $100 billion. With such a valuation the company will be one of the largest tech companies in the world, only behind behemoths like IBM, Google, Apple, Microsoft and Intel.

Zuckerberg will become the world's youngest multi-billionaire as he owns 28 percent of the company. Others employees will become rich, as well, including Napster founder Sean Parker, who was an early investor and once held the title of President.

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