Back in November of last year, The Wall Street Journal reported that Facebook was hoping to be valued at $100 billion after its IPO, and it seems those ambitions have come true. Facebook just confirmed it has priced its initial public offering of 421,233,615 shares of stock at $38 per share. At that price, the company's market cap should be $104.12 billion in total, and the company should raise over $16 billion by selling those initial shares. They'll be on sale on NASDAQ starting tomorrow, under the "FB" symbol, and the IPO should end on May 22nd.
As late as May 3rd, it seemed that Facebook wouldn't quite make it to $100 billion, as an amended form S-1 showed that the company only valued itself in the $60-75 billion price range, but apparently would-be investors helped the company pull out the stops at the last minute.
As you'd expect in preparation for a major financial announcement like this, interest in Facebook's founders and business practices is at an all-time high. Here are just a few recent jumping-off points if you're interested, and you can find more in our StoryStream on the right.