Around the Net
Facebook IPO In May?
- All Things D, Monday, January 16, 2012 11:59 AM
Facebook’s long-anticipated IPO will likely come in the third week of May, AllThingsD reports, citing multiple sources. “That means that the company must file its IPO documents within the next month, given the review by the Securities and Exchange Commission usually takes about three to four months,” AllThingsD’s Kara Swisher writes. Covering her bases, Swisher cautions that the date of the IPO could easily be moved.
“In any case,” she adds, “the Facebook IPO is expected to be one of the largest Web offerings ever -- with some reports saying the company will be raising $10 billion on a $100 billion valuation.” By some estimates, Facebook is on target to hit 1 billion users, this year, while revenue -- which was reportedly close to $4 billion in 2011 -- is expected to be higher by another third in 2012. All the same, adds Swisher: “Facebook will need such oomph if it is to impress investors, although the social networking site’s leadership is still warning that its focus is products over dollars.”
In fact, in an interview with The Wall Street Journal last week, CEO Mark Zuckerberg said: “The thing to take away isn’t that we don’t care [about business]. People for years were asking me why aren’t we trying to make more money … I would say I’m trying to build a business for the long-term, and it was clearly the right strategy.”
