Facebook is hoping investors will “like” the social network just as much as its users already do. Following a series of rumors that have multiplied in recent weeks, Facebook filed for Initial Public Offering (IPO) on Wednesday with the Securities and Exchange Commission at a value of $5 billion.
The impending IPO has been widely expected among investors and tech circles for some time, with the earliest rumors going back for years. Some expected the company to raise upwards of $100 billion (yes, you read that right—one hundred billion US dollars) but according to the company’s S-1 filing with the SEC, Facebook is aiming for a much more reasonable $5 billion to start.
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It’s official: Facebook files for $5 billion IPO