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Facebook meets with IPO filing expected Wednesday

updated 08:25 pm EST, Tue January 31, 2012

Valuation remains unclear

Members of Facebook's board have reportedly established a final meeting to work out any remaining details surrounding of the company's initial public offering. Corroborating earlier leaks, unnamed sources have told All Things D that the IPO could be filed as early as Wednesday morning or after the market closes for the day.

Despite rumors of valuation soaring as high as $100 billion, the company is believed to be attempting to raise approximately $5 billion from the IPO. An exact number has yet to be independently verified by multiple sources.

The Facebook IPO has been one of the most highly anticipated, as many tech companies have made the same move well before growing as large as the social networking giant. CEO Mark Zuckerberg is said to have taken a patient approach, building the business to its dominant position while it remained privately held.




by MacNN Staff

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