Facebook to be Valued at Over $100 Billion in 2012

Wednesday, 30 November 2011, 03:16 Hrs
Printer Print Email Email


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
SPOTLIGHT
Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..
IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..