Palo Alto based social network giant Facebook is reportedly aiming May 17th as the possible date for its initial public offering, according to a TechCrunch report that cites unnamed sources familiar with the firm. The Initial Public Offering might be off relying on how much time federal authorities need to review Facebook’s recent $1 billion acquisition of mobile-photo-sharing startup Instagram.
Facebook’s highly anticipated IPO is expected to be one of the largest tech offerings ever. The company filed an S-1 form with the SEC in February, publicly announcing its intention to raise $5 billion through the IPO. Several have speculated that the $1 billion transaction around the idea that Facebook shares would be worth more after they began trading publicly. Zuckerberg’s Facebook agreed to pay Instagram 30% cash and 70% in stock. New York Times indicates that Facebook is looking to raise around $10 billion from the stock sale, with a valuation as high as $104 billion.
Source: TechCrunch
