Facebook’s multi-billion dollar initial public offering (IPO), announced in February, may be set for 17 May, TechCrunch reports citing multiple sources close to the company.
The suggested date corroborates with an earlier report from All Things D that the stock flotation would occur in the third week of May, but would be dependent on clearance from the US Securities and Exchange Commission, which will take Facebook’s billion dollar acquisition of Instragram into account amid the paperwork.
However, unnamed sources privy to the talks revealed that during discussions, it emerged that Facebook could reach a valuation of $104 billion (£65bn) when floated on the NASDAQ, equal to $40 per share, a price they previously traded at on the secondary market. By paying Instragram with 70 percent shares, the value of Facebook’s deal could potential increase or decrease depending on the success of the IPO.
The social giant’s road leading up to the proposed May IPO has been eventful to say the least. In addition to the purchase of Instragram, the company has been forced to deal with patent litigation from the likes of Mitel and Yahoo, prompting a portfolio acquisition from IBM and subsequent countersuit against the latter company.
Are you an patent expert? Take our quiz.
US finalises $4.7bn award to Samsung Electronics, $1.6bn to Texas Instruments to boost domestic chip…
OpenAI begins safety testing of new model o3 that uses 'reasoning' process to ensure reliability…
US Commerce Department reportedly adding China's Sophgo to trade blacklist after TSMC-manufactured part found in…
Amazon staff in seven cities across US go on strike after company fails to negotiate,…
Two US senators ask president Joe Biden to delay TikTok ban by 90 days after…
Reporters Without Borders calls on Apple to remove AI notification summaries feature after it generates…