IPO to value Facebook at $100bn

 

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By Stewart Mitchell

Posted on 29 Nov 2011 at 09:52

Facebook is moving closer to a public share offering that would value the social network at a staggering $100 billion, according to reports.

Although the company is only expected to seek $10 billion, the Wall Street Journal said the initial public offering (IPO) would value the company at more than twice that of tech stalwart HP.

Citing sources close to the situation, the paper claimed founder Mark Zuckerberg was targeting an IPO between April and June next year.

The company, which has remained private for longer than most commentators expected, officially refused to comment on the story. However, Facebook has reveal its books to US financial regulators when it passes 500 shareholders, so it is expected to seek a flotation at that point.

“[Zuckerberg] is warming to the idea,” the Journal reported sources as saying. “Facebook is now in internal discussions over the timing of its filing with the Securities and Exchange Commission, and is considering filing dates as early as this year.”