The long-awaited tech IPO (Initial Public Offering) of the year — perhaps of the decade — is almost here. Facebook will file its paperwork for an Initial Public Offering on Wednesday, according to The Wall Street Journal. WoooooooHOOOOOOOOOO! I’m rich *itch!
You can start gathering your pennies to invest in the company but it will still be several months until the company goes public hits Wall Street.
The initial offering is expected to raise as much as $10 billion, which would make it the biggest U.S. Internet IPO in history. The record currently stands at $1.9 billion, by Google when it went public in 2004.
Facebook’s reported valuation of $75 billion to $100 billion means the company will be one of the few top companies on wall street. Just to give you an idea, McDonald’s Corp. is worth $100 billion , $90 billion for Citigroup Inc. and Amazon.com Inc. and $75 billion for Bank of America Corp.
Both Facebook and Google earn most of their money from advertising and are now competing to gain as much information as possible about their users to help advertisers target niche audiences.
Zuckerberg, 27 who created Facebook is already worth $17.5 billion, based on the latest estimates from Forbes magazine. Most of that wealth is drawn from the value of Facebook shares that have traded among a small universe of well-heeled investors that buy stakes in companies before they go public.
What do you think—and will you buy a slice?
via BlackMediaScoop
