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Facebook IPO Reportedly Set For 18th May

With many waiting in anticipation for news of Facebook's IPO, The Wall Street Journal has reportedly set the date: 18th May. The publication has reason to believe that the social networking business will begin pitching to investors as of next Monday, and should the company prove successful in gaining interest, will hold its initial public offering later this month.

Although the date hasn't been confirmed, it's been reported that Facebook CEO Mark Zuckerberg along with chief operating officer Sheryl Sandberg and chief financial officer David Ebersman will host a number of meetings where the company will pitch its stock to investors. And despite originally filing on 1st February, Facebook's IPO is expected to raise as much as $10 billion, as well as being valued around a jaw-dropping $100 billion - making it the largest initial public offering ever.

Since the company has gone public, it's given us mere mortals a glimpse into the way business operations are carried out at the Palo Alto headquarters. With around 900 million active users, Facebook has done extremely well for itself - not to mention that it gets 12 per cent of its business from social gaming agency Zynga, has a storage capacity of over 100 petabytes (102,400 terabytes) of videos and photos and has a considerable amount of leeway on voting stock too.

Source: The Verge