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
Most of the decline was due to a sharp drop in digital display advertising, which plunged 8% in the second quarter.
The test saw Facebook "manipulate" news feeds to control which emotional expressions the users were exposed to.
The bike will not go on general sale, instead the firm will select customers from the U.S. to ride it and provide feedback.
The Facebook.com was unavailable in European locations. It also appeared to be offline in parts of Asia, including India.
Partner news