Welcome, Guest! - or
Easy to remember!  »  VinNews.com

Palo Alto, CA - Report: Facebook IPO Set For May 18

Published on: May 1, 2012 10:26 PM
By: AP
Change text size Text Size  
Bookmark and Share
CEO Mark Zuckerberg at Facebook headquarters in Palo Alto, California. (AP)CEO Mark Zuckerberg at Facebook headquarters in Palo Alto, California. (AP)

Palo Alto, CA - Facebook will go public on May 18, a published report says, in one of the most highly anticipated tech initial public offerings since Google went public in August 2004.

The Wall Street Journal reported Tuesday that the social networking company is set to start its roadshow on Monday, according to people familiar with the matter. The roadshow, a series of meetings with prospective institutional investors, is designed to stir interest in the company’s stock.

Mark Zuckerberg, the founder and chief executive of Facebook, will attend some of the meetings, The Journal reported.

The Menlo Park, Calif.-based company is seeking to raise about $5 billion in the offering, giving the entire company a value of about $100 billion.

Advertisement:

Officials for Facebook did not immediately respond to a request for comment.

Facebook last month announced it is buying Instagram, the company behind a popular mobile photo-sharing application with the same name, for $1 billion, its largest acquisition ever.

During the first quarter, Facebook’s net income fell 12 percent, weighed down by higher expenses even as its revenue soared. Net income fell to $205 million in the three months that ended March 31, from $233 million a year earlier, while net income attributable to common shareholders fell to $137 million from $153 million. That amounts to earnings of 9 cents per share in the latest quarter, down from 11 cents a year earlier. Revenue rose 45 percent to $1.06 billion.

The company had 901 million monthly active users as of March 31, up from 845 million as of the end of 2011.

Facebook is listing its stock on the Nasdaq under the ticker symbol “FB.”


More of today's headlines

Maryland - A Baltimore judge has denied a motion to drop charges against two brothers accused of beating a black teenager while patrolling for a Jewish neighborhood... Meron - Only three and a half months after demolishing a pathway for kohanim (priests) at the tomb of Rabbi Shimon bar Yochai on Mount Meron, the government is...

 

Total4

Read Comments (4)  —  Post Yours »

1

 May 01, 2012 at 10:33 PM Anonymous Says:

It's another bubble that will burst. BEAWARE Yidden!

2

 May 02, 2012 at 01:11 PM The_Truth Says:

Its going to get a lot higher before it bursts. I think now is time to invest in FB - if you have the cash.

3

 May 02, 2012 at 01:17 PM ShmuelG Says:

Reply to #1  
Anonymous Says:

It's another bubble that will burst. BEAWARE Yidden!

Anything can happen. But the doomsayers like you were making the same remarks when Google stock was offered early in the last decade (shortly after the so called .com bubble burst, by the way). I liked Google, loaded up on its stock (to reasonable extent) and never regretted it since.

I am not in any way recommending Facebook, decide for yourselves. All I am saying: instead of constantly harping about possible failure, like Anon#1, if the yid sees an opportunity to improve his financial well being, he should take it.

4

 May 02, 2012 at 04:15 PM yaakov321 Says:

They should have made the Companies Ticker Symbol "FBK". I think. Get your pixels when they are hot!

5

Sign-in to post a comment

Scroll Up
Advertisements:

Sell your scrap gold and broken jewelry and earn hard cash sell gold today!