Facebook files for IPO, planning to raise $5-billion (U.S.).
Posted February 1, 2012 7:30 pm.
This article is more than 5 years old.
Facebook Inc. has filed papers for an initial public offering potentially worth $5-billion.
The company said the stock would go on sale at some point in the second quarter under ticker symbol ‘FB.’ Although no specific date was mention, it is believed that the stock will go on sale in May.
No word on how much shares will cost.
In the IPO document, the company stated it had a revenue of $3.7-billion with a net income of $1-billion in 2011. Most of that money came from advertisers.
It’s founder and CEO Mark Zuckerberg made a base salary of $500,000 last year.
The company boasts more than 800-million users with more than 400 active users every day as of December.
It can take up to four months for a stock to start trading after the initial filing, and the big investment banks will have first crack at those first shares in Facebook.
This will be one of the biggest tech IPO’s in U.S. history.
