Facebook IPO: Facebook Files For Initial Public Offering

By on Feb 2, 2012 in Business, Internet, Stock Market, Technology, United States, World Comments
Facebook IPO Mark Zuckerberg
Facebook’s Mark Zuckerberg
Image Credit: Search Engine Journal

Facebook Inc., the world’s biggest social networking website, filed for an initial public offering (IPO) with an initial registration amount of $5 billion, according to reports from several financial news site on Thursday, February 2, 2012.

According to reports, Facebook Inc. plans to list its shares under the symbol FB. Furthermore, the final size of the offering may vary as the registration amount is just a placeholder used for calculating filing fees.

Facebook’s IPO marks another stage of the Internet’s evolution. It’s so valuable, because it’s not just about content, it’s about our connections,” Charlene Yi, founder of the Altimeter Group, a technology consulting firm was quoted as saying by the New York Times.

According to reports, the Wall Street firms underwriting the IPO are Morgan Stanley, Bank of America-Merrill Lynch, JPMorgan Chase, Goldman Sachs, Barclays Capital and Allen & Company.

Facebook IPO could be the biggest technology market debut since Google went public in 2004 and raised $1.66 billion.

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