Dynamic Business Logo
Home Button
Bookmark Button

©unsplash

Facebook makes moves to go public

Facebook CEO Mark Zuckerberg could file IPO papers as soon as Wednesday this week, sources close to matter have revealed.

The Wall Street Journal cited two unnamed sources close to the deal as behind the report that Facebook could file IPO paperwork with the Securities and Exchange Commission by the middle of this week, with Morgan Stanley likely to head up the deal.

It’s believed the company will be floated on the stock market sometime between April and June this year.

The listing could see Facebook raise US$10 billion, with the social network to be valued between US$75 billion and US$100 billion. If it achieves the $100 billion valuation, it will be worth as much as McDonalds and around half that of Google.

Zuckerberg, now 27-years-old, established the wildly successful social network from his Harvard dorm room eight years ago. Facebook now has over 800 million users around the world, around 500 million of which log-in to the social network at least once daily.