The six-year-old Facebook has filed papers with the Securities and Exchange Commission (SEC) in preparation for its long-awaited initial public offering (IPO). The company is expected to raise $10 billion. Facebook IPO would be among the largest IPOs ever. Earlier Visa set a record in 2008, when it raised $17.9 billion. This IPO will be the biggest of any tech company in history.
Other big internet IPOs in USA were as follows :-
1. Bankrate raised 300 million USD in June 2011
2. Linkedin raised 353 million USD in May 2011
3. Groupon raised 700 million USD in Nov 2011
4. Google raised 1.67 billion USD in August 2004
Only 3 other USA companies have had 10 billion plus USD IPOs and those are AT&T IPO with 10.8 billion USD in year 2000, GM IPO with 18.1 billion USD in year 2008 and VISA IPO with 19.7 billion USD in year 2010.
Facebook is likely to be valued at 100 billion USD by April 2012 and this would make Facebook bigger than Disney – 61 billion USD, Amazon – 88.3 billion USD and McDonalds – 95.6 billion USD.
Facebook is so popular networking site that more than 800 million users login daily here. Founder of facebook Mark Zuckerberg is just 26 yers old and hold 24% of shares in the company while co-founder Dustin Moskovitz hold 6% of shares.