Facebook reportedly targets May 17 for IPO with $104b valuation

Facebook reportedly targets May 17 for IPO with $104b valuation

PanARMENIAN.Net - Social network giant Facebook is allegedly targeting May 17 as the potential date for its initial public offering, according to TechCrunch that cites unnamed sources familiar with the company.

The IPO date might be off depending on how much time federal regulators need to review Facebook’s recent $1 billion acquisition of mobile-photo-sharing startup Instagram.

And speaking of Instagram, some have speculated that the $1 billion deal was structured around the idea that Facebook shares would be worth more after they began trading publicly. On that assumption, Facebook agreed to pay 30 percent cash and 70 percent in stock. Sources from both TechCrunch and the New York Times indicate that Facebook is looking to raise around $10 billion from the stock sale, with valuation as high as $104 billion, VentureBeat reports.

At that value, Facebook would be very close to trading at the same levels it was hitting while trading on the secondary market, pricing the social network at about $40 per share.

 Top stories
YouTube, eager to capture cord cutters with original content, is about to debut one show and three movies to the Red subscription service.
"It looks like Google continues to execute on mobile advertising," said Neil Doshi managing director of research at Mizuho Securities.
Some of the executives are departing under pressure and others decided on their own to leave the company, the person said.
Many enterprise customers cling to old versions of Windows to the point where PC makers sometimes offer those versions on brand new systems.
Partner news