“Facebook Inc. is inching closer to an initial public offering that it hopes will value the company at more than $100 billion, according to people familiar with the matter,” The Wall Street Journal is reporting tonight.
“The social networking firm is now targeting a time frame of April to June 2012 for an initial public offering, said people familiar with the matter. The company is exploring raising $10 billion in its IPO—what would be one of the largest offerings ever—in a deal that might assign Facebook a $100 billion valuation, a number greater than twice that of such stalwarts as Hewlett-Packard Co. and 3M Co.
“Facebook is looking to go public between April and June 2012, with a possible filing by the end of this year.
“A Facebook IPO has been hotly anticipated for several years, and viewed as a defining moment for the latest Web investing boom. The company has been vague about whether it would even make such an offering and silent on timing of an IPO. ‘We’re not going to participate in speculation about an IPO,’ said Facebook spokesman Larry Yu.”
The rest of the article is here.