Facebook Inc. is moving closer to an initial public offering that should put the company’s value at more than $100 Billion according to several reputable internet reports floating around cyberspace.
Facebook’s total value would then be greater than such companies as HP and 3M Co.
According to these reports, Facebook is targeting a timeframe between April to June of next year for their initial public offering. The social network king is expected to raise $10 billion in its IPO which would be one of the largest offerings ever.
This move has been hotly anticipated and debated for years, practically ever since Facebook has gone mainstream. This is another key event and reminder for website owners everywhere to rejoice and relish in knowing that investing in the internet isn’t dead.
These reports on Facebook is unfortunately coming at a time when investors are beginning to question the value of some newer Internet businesses.
The most recent IPO, an $805 million float of discount-deal service Groupon Inc. on Nov. 3, has plummeted 42% in price in the past five trading days after surging in its first day of trading. Business-networking service LinkedIn Corp., whose stock more than doubled from its IPO price on its first day of trading May 19, has since fallen 36%, but remains 33% above its IPO