Facebook plans $10-bn IPO
Social networking major Facebook is considering a $10-billion initial public offer, which would peg the company's market valuation at $100 billion.Yahoo stake race in home stretchindia Updated: Nov 29, 2011 23:04 IST
Social networking major Facebook is considering a $10-billion (Rs 52,000 crore) initial public offer, which would peg the company’s market valuation at $100 billion, according to a Wall Street Journal report.
Citing people familiar with the matter, the WSJ report said Facebook is targeting a timeframe of April to June, 2012 for an IPO.
“Facebook is now in internal discussions over the timing of its filing with the Securities and Exchange Commission.”
However, Facebook chief executive Mark Zuckerberg has not made any final decisions, WSJ reported quoting sources.
Zuckerberg has in the past publicly expressed his reluctance to go in for an IPO.
Facebook spokesman Larry Yu said, “We’re not going to participate in speculation.”
“Companies often explore an IPO once they have $100 million in revenue. Facebook is expected to debut with more than $4 billion in revenue, making it bigger than Yahoo,” the report said.
The largest US internet IPO was the $1.9 billion sale in 2004 by Google, which valued the internet giant at $23 billion.
First Published: Nov 29, 2011 11:17 IST