Facebook files for $5 bn IPOFebruary 2nd, 2012 - 3:08 pm ICT by IANS
Washington, Feb 2 (IANS/RIA Novosti) Facebook has filed for an initial public offering (IPO) to raise at least $5 billion for the world’s largest social network, according to documents posted on the US Securities and Exchange Commission website.
The deal could raise as much as $10 billion and value the social network at between $75 billion and $100 billion, valuing Facebook as the biggest US Internet offering ever, overtaking Google which raised $1.9 billion in 2004 with a $23 billion valuation.
“There is a huge need and a huge opportunity to get everyone in the world connected, to give everyone a voice and to help transform society for the future,” Facebook’s owner and CEO Mark Zuckerberg, aged 27, said in a letter that accompanied the filing.
The filing was made online with the SEC in Washington late Wednesday. The timing of the IPO, the price of offering and the stock exchange for the company’s IPO are yet to be specified.
Russian Internet investment group Digital Sky Technologies (DST), which owns the Mail.ru mailing system, Odnoklassniki.ru social network site and ICQ instant-messaging service, increased its stake in Facebook last year to 10 percent in a $500 million investment deal.
DST was established in 2005 by Russian metals magnate and billionaire Alisher Usmanov and businessmen Yury Milner and Grigory Finger.
- Russian social network delays IPO after Facebook crash - May 30, 2012
- Russian journalists fired for photos targeting Putin - Dec 13, 2011
- Russia's richest tycoon names $100 mn Yacht after mother - Jun 01, 2012
- Deceived Russian real-estate investors set up social network site - Apr 23, 2010
- Russia's Kommersant ends TV channel - Jun 27, 2012
- Facebook IPO boosts growth of Chinese sites - Feb 03, 2012
- Russians most active in online social networking - Oct 22, 2010
- Facebook sets IPO price at $38 - May 18, 2012
- Karzai opens Facebook, Twitter accounts - Nov 25, 2011
- Russian orthodox church opens Facebook account - May 16, 2012
- Punish those who call for violence on web: Medvedev - Nov 22, 2011
- Facebook's IPO will give birth to many millionaires - Dec 09, 2011
- Medvedev has 1 mn Twitter followers - Feb 19, 2012
- Facebook to become publicly-listed company - Jan 30, 2012
- Key Russian websites hacked, down on election day - Dec 04, 2011
Tags: billionaire, ceo mark, digital sky, dst, facebook, feb 2, google, initial public offering, initial public offering ipo, internet investment group, investment deal, magnate, mail ru, mailing system, milner, ria novosti, russian internet, securities and exchange commission, stock exchange, usmanov