Facebook to be Valued at Over $100 Billion in 2012

Wednesday, 30 November 2011, 03:16 Hrs
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London: Social network Facebook is preparing to allow private investors to invest in the website next year, and hopes its first offering will value the company at over $100 billion, a media report said Tuesday.

The Wall Street Journal said a source familiar with the matter claims Facebook was preparing to launch an initial public stock offering (IPO) next year.

Facebook now reportedly has more than 800 million members, Sky News said.

Facebook's chief financial officer David Ebersman has discussed a public float with bankers but founder and chief executive officer Mark Zuckerberg has not decided on any terms and his plans could change, the daily said.

The company was started seven years ago by Zuckerberg in a Harvard University dormitory room.

A Facebook representative declined to comment on the issue.

Source: IANS
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