Facebook IPO filing rumored to come soon
Social-networking giant Facebook is reportedly planning to file paperwork for an IPO with the Securities and Exchange Commission on Wednesday.
Facebook is rumored to be filing its paperwork for its initial public offering—reported to be working to raise $10 billion, bringing its value to $100 billion, the Washington Post reported.
PHOTOS: The world's 10 largest IPOs
If they meet their fundraising goal, Facebook would become the sixth-largest U.S. IPO ever—sandwiched between AT&T Wireless and Kraft Foods.
The networking giant would also become the 15th-largest IPO in global history, behind Glencore International and ahead of Japan Tobacco.
Google currently holds the record for the largest technology IPO with $1.66 billion, according to Renaissance Capital. Facebook’s goal IPO would be more than six times that of Google.
If reports that Facebook’s market capitalization is between $75 billion and $100 billion, it would be larger than Disney’s $70 billion or General Motors’ $38 billion. Google’s is now at $187 billion, Microsoft is at $248 billion and Apple is at $422.47 billion.
READ MORE at WashingtonPost.com.