Facebook reportedly eyes May for biggest Internet IPO in history

Facebook is reportedly targeting May for its initial public offering, which is set to be the biggest Internet IPO in history by a substantial margin. The Wall Street Journal on Wednesday cited unnamed sources in stating that Facebook was aiming for a May offering, and the company halted trading on the secondary market this week as it makes preparations. The company filed with the U.S. Securities and Exchange Commission in February, and it could raise as much as $10 billion at a $100 billion valuation when it goes public later this year. Google currently lays claim to the largest Internet IPO, having raised $1.9 billion in 2004. Facebook recorded net income of $1 billion on $3.71 billion in sales last year. The company’s social network is currently home to more than 845 million active monthly users.

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