 |
Facebook
(Image Credit: wikipedia.org)
|
Reports have
indicated that the much-awaited Facebook IPO may make its debut on Wall Street
on May 17.
The recent
reports appear to verify earlier reports that the shares of Facebook will be
listed on Nasdaq by the third week of the month of May.
A number of
sources reportedly indicated that if the Securities and Exchange Commission or
the SEC will give its approval, the Facebook IPO will be made available on
Nasdaq by May 17. The company will reportedly have a value of about $100
billion with its initial public offering.
The papers
for the $5 billion Facebook IPO were filed by company at SEC last February
which ended previous speculations that the social networking company will go
public. The filing also showed that around 845 million users have signed up
with the social network and it earned $3.7 billion a year ago. The company has
been making money in the last three years, which may add to the appeal for the Facebook
IPO.
Following
the listing of the Facebook IPO, the shares of the company will reportedly use
the ‘FB’ ticker symbol. A number of technology companies are listed on Nasdaq
including Google and Apple. On the other hand, Pandora and LinkedIn are listed
on the NYSE, the rival of Nasdaq.
Prior to the
reports on the possible listing of the Facebook IPO on May 17, the social
networking company acquired Instagram for $1 billion. Instagram is a mobile
photo sharing app that has attracted around 40 million users around the world.
Aside from
the upcoming listing of the Facebook IPO and acquisition of Instagram, Facebook
is also set in expanding its California headquarters. The City Council of Menlo
Park gave its approval for the planned expansion of the 57-hectare property of
the company, which will result to an increase in employment and increased
revenue for the city.
No comments:
Post a Comment