Monday, January 30, 2012
New York - Facebook is expected to file papers for an initial public offering this week. Indications are that the IPO will suggest the company is worth $75 billion to $100 billion, The Wall Street Journal reported Friday. The offering, which could raise as much as $10 billion, has been hotly anticipated as a defining moment for the latest Web investing boom.
After 7 years of operation, the company estimates it has created 450,000 jobs in the U.S. and Europe alone. Thousands of successful corporations use Facebook for targeted advertising purposes throughout the globe.
Word is that Morgan Stanley and Goldman Sachs are locked in a public relations battle of rumor and speculation to get the opportunity to make the lucrative IPO.
Posted by The Legendary at 12:37 PM