'Facebook could go public by April 2012'

The social media company is aiming for a public valuation of $100b., 'Wall Street Journal' reports.

November 29, 2011 16:05
1 minute read.
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facebook logo311. (photo credit: REUTERS)


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Facebook Inc. is targeting April to June 2012 for an initial public offering (IPO), hoping that the move will value the company at $100 billion, the Wall Street Journal reported Tuesday.

The company is currently engaged in internal discussions over the timing of its filing with the Securities and Exchange Commission (SEC).

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Is Facebook 'required reading?'

Facebook is the largest social networking website, with over 800 million users worldwide. The company's revenue doubled to $1.6 billion in 2011's first half.

The Wall Street Journal reported that Facebook will be required to make its financial information public by April 2012, because the company will cross SEC's 500-shareholder limit by the end of this year.

Although they technically do not have to release an IPO then, the company would be left
with most of the liability of a public company, but without the fundraising benefits of a public offering, according to the report.

Large brand advertisers as well as local businesses are increasingly spending marketing dollars on Facebook, drawn by its vast number of users and the ability to target ads to consumers based on their interests, said Blinq Media CEO David Williams in September.

Facebook's social network, in which users endorse products and companies by "liking" pages, provides a treasure trove of valuable data that other online services can't match, he said.

"Companies like Yahoo are relying on third party user behavioral data based on things like cookies. On Facebook that's data that users have revealed about themselves," he added.

Created by CEO Mark Zuckerberg in a Harvard dorm room in 2004, Facebook has become one of the Web's most visited destinations by people who spend hours on the site every month sharing photos and videos, and conversing with friends.

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