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June 28, 2022

Facebook Files For IPO, Looks for $5 Billion

Today, Facebook has officially filed for its initial public offering (IPO). Facebook is looking to bring in $5 billion for the IPO.

At the end of 2011, Facebook reported $3.7 billion in revenue.

Facebook, with its 845 active users, has been profitable for a few years now. Users have been predicting the IPO of the Internet company since 2009.

Facebook is expected to trade under the symbol “FB,” as the two letters are often the abbreviation that users use when referring to the site.

The initial paperwork does not say on which market the new stock will be traded on. Currently it is not known how many shares Facebook will offer or how much each share would cost users.

Experts are expecting the new Facebook stock to go for $29.73 a share.

The official number will not be out for a few months though.

Regardless, this is arguably the most highly anticipated IPO of any company in years. Time will tell what this does for Facebook as a business and as a product.

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