The speculation is over. Facebook Wednesday filed for an initial public offering to raise up to $5 billion in a deal that could ulimately value the social network at an estimated $75 billion to
$100 billion. Though less than the $10 billion rumored, the transaction would still be by far the largest IPO ever by an Internet company, easily eclipsing the $1.9 billion raised by Google in
2004.
The $5 billion is also seen as just a preliminary fund-raising target that Facebook could expand to the expected $10 billion to meet investor demand. Morgan Stanley will lead the
IPO with help from Goldman Sachs and JPMorgan Chase, among others. Facebook’s actual market debut isn’t expected until this spring. Read the full S-1 filing here. More to follow.