Facebook ready for $100bn flotation at any moment
Social networking giant Facebook is preparing for a $10bn public stock offering this spring which could value the company at $100bn.
Facebook founder Mark Zuckerberg is remaining tight lipped about any possible IPO but is thought to be ready to go for a flotation at any moment.
Irrespective of that decision Facebook must file financial information with the Securities and Exchange Commission by April 30, 2012 – a legal requirement after the website confirmed it would surpass the critical 500 shareholders mark this year.
It is likely therefore that any flotation would take place shortly thereafter, with April-June cited as the most probable window.
Facebook’s revenue in the first six months of 2011 is thought to have doubled year-on-year to £1bn.
Cash generated as a result of the windfall is likely to be diverted into the development of a long rumoured ‘Facebook Phone’ or a netbook.