Facebook Plans IPO Filing For Next Week
Facebook is planning to drop its long-awaited IPO filing on Wednesday, the WSJ reports. The timing isn't set in stone and could still change, a source tells the WSJ. Morgan Stanley is "close" to becoming the underwriter. Goldman Sachs will also play a "major role." The filing will disclose lots of long held secrets about Facebook's financials. After the filing drops, there will be months of waiting until Facebook actually goes public sometime in the spring. Facebook's IPO valuation is expected to be somewhere between $75 billion and $100 billion. Facebook's 2011 revenues – ads, mostly – came in around $4 billion, according to reports. When the springtime IPO happens, Facebook COO Sheryl Sandberg will become one of the world's wealthiest self-made women. The company will also create 1,000+ millionaires. Update: The Next Web reports that a Facebook employee is saying the IPO will be on Monday, not Wednesday. Either way, next week looks like a lock.
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