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Facebook preparing for IPO in May, says WSJ

Facebook may be preparing its IPO for May, attempting to raise $5 billion in cash.

Facebook Zuckerberg network 1024
Facebook Zuckerberg network 1024

Facebook filed its initial public offering (IPO) paperwork with the Securities and Exchange Commission (SEC) in early February, but The Wall Street Journal (WSJ) claims the company is now preparing its IPO for May. Citing a person familiar with the matter, the WSJ says Facebook halted trading of its shares on the secondary markets this week — a move that could indicate it is seeking to put a figure on its shareholder count.

In its initial IPO papers, Facebook revealed it will trade under the "FB" stock symbol and that the firm expects to raise around $5 billion. The eight-year-old organization could be valued at $100 billion after you consider the shares that existing investors already own, a hefty sum for a modern web company. Although Facebook is still in discussions with the SEC, the WSJ says it will file at least one more amendment to its S1 papers. The original documents revealed some interesting facts and figures, including that 12 percent of Facebook's 2011 revenue came from Zynga alone, and that CEO Mark Zuckerberg holds 28.4 percent of the company. We will keep our eyes open for any extra stats, but if you're looking for some Facebook shares then it looks like you'll need to save some pennies over Easter in preparation for May.