Facebook to Go Public May 18

Facebook logoFacebook announced that its initial public offering (IPO) will take place May 18, 2012.

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.

IPO Facebook

Now, Facebook will go public May 18. It is looking to raise $5 billion in the offering.

The company's roadshow is expected to start Monday, where prospective investors will take part in a series of meetings to draw interest in Facebook's stock. Mark Zuckerberg, Facebook CEO, will be present at some of the meetings.

Facebook will list its stock under the ticker symbol "FB" on NASDAQ.

Facebook has had an eventful month, with its North Carolina data center officially going online to serve live user traffic, its patent infringement war with Yahoo over 10 of the social network's patents, and the addition of an organ donor option on Facebook Timelines in an effort to locate donors for those in need.

As of March 31, 2012, Facebook had 901 million monthly active users.

Source: DailyTech

Tags: Facebook, social networks

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