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Facebook to become publicly-listed company

social media Updated: Jan 30, 2012 18:33 IST

Social network Facebook will soon become a publicly-listed company, valued at $75-100 billion, Sky News reported on Monday.

According to the Financial Times and The Wall Street Journal, Facebook plans to file papers with the US financial watchdog on Wednesday.

The flotation later this year would raise around $10 billion, making it one of the biggest share sales ever on Wall Street.

Rumours of Facebook's initial public offering (IPO) have been circulating for months.

"Facebook a brilliant achievement, but $75-$100bn? Would make Apple look really cheap," wrote Rupert Murdoch on Twitter.

The company was started by Mark Zuckerberg and fellow students at Harvard University in 2004. It has over 800 million users and makes most of its money through advertising.