Facebook IPO Date: May 17th

Apparently Facebook is all set to make its opening splash on the NASDAQ on the 17th of May.

That's according to multiple sources who are, as usual, "close to the company", the informants in question having spoken to Techcrunch.

The IPO (Initial Public Offering) isn't set in stone, the rumour whispers indicate, as there's a lot of paperwork the SEC still has to ratify. Not the least part of which is Facebook's latest big acquisition, mobile photo sharing service Instagram, which cost Zuckerberg a cool billion in itself.

The date is in line with previous speculation, so it seems there's a fair chance that we will see Facebook on the stock exchange exactly four weeks from today.

Facebook is likely to be valued at around the $100 billion mark, and will be the biggest IPO filed by a tech company since Google went public, a long time ago now, back in 2004. The social network is hoping to raise $10 billion at a $100 billion valuation, however, it's thought that mark won't quite be reached.

One of the sources who spilled the beans told Techcrunch: "Investors want as high a price as possible so that the secondary market won't look like a problem."

At any rate, around a thousand past and present Facebook staff are likely to become paper millionaires come the middle of May. Not bad for a company which was initially created to accomplish a "social mission", and not to make money.

Source: Techcrunch