Facebook on Tuesday raised its initial public offering price target range to between $34 and $38 per share in response to strong demand, an increase from $28 to $35, according to a new filing with the United States Securities and Exchange Commission. The new price range pushes the social networking company’s valuation to between $93 billion and $104 billion. Facebook will offer a total of 388 million shares, and is looking to raise $14.7 billion. Facebook will make its initial public offering on May 18th and its shares will be listed on the NASDAQ exchange under the “FB” ticker symbol.

[Via TechCrunch]


Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.