The world's largest social network, Facebook is on track to complete its long anticipated IPO this week. Facebook plans to raise $12.1 billion, making it the fifth largest US IPO ever, by offering 337.4 million shares (47% insider) at a price range of $34 to $38. At the midpoint of the range, Facebook would have a market cap of $98.6 billion. Eleven banks are joint bookrunners, including Morgan Stanley, J.P. Morgan and Goldman Sachs, in what is one of three deals scheduled to price this week on the US IPO calendar.
Facebook operates a social platform that enables users to create profiles, communicate and share content between users and play online games, among other features. Since its 2004 founding, Facebook has rapidly grown to boast 901 million monthly active users and 526 million daily active users. Facebook generates the majority of its revenue from advertising, including display ads as well as premium ads with interactive content or more visible placement.
Facebook: Friending Investors
May 15, 2012Read more about Facebook's business and outlook.
