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Facebook sets IPO price at between $85bn and $95bn


By The Drum Team | Editorial

May 4, 2012 | 1 min read

Social media site Facebook’s forthcoming initial public offering (IPO) has been valued at between $85bn and $95bn (£52bn - £59bn) by the company itself.

The share price for the IPO is priced at between $28 and $35 a share, and is set to be the largest of any internet firm, although it comes a week after the site recorded its first drop in revenue for two years, although directors believe the growth in mobile usage will offer further investment opportunities.

The company is also set to be the most valuable American company in history to go public.

Here's what Justin Cooke, CEO of Fortune Cookie, had to say about Facebook's IPO.

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