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Facebook IPO: the $16 billion friend request

26 updates since Nov 29, 2011, 4:02 PM UTC
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After years of rumor and waiting, Facebook has finally filed for its IPO, kicking off the process by which it will become a publicly traded company. The social networking behemoth has officially set its opening stock price at $38 per share, which confirms its $100+ billion valuation. Selling off its initial shares should raise a cool $16 billion.