Reports say Facebook to price IPO at
The Wall Street Journal reported that the paper's sources say Facebook is on the verge of pricing its initial listing shares at $38 each, which would push the company value to over $100 billion.Nothing is final yet, and Facebook executives and senior bankers spent much of the day in a meeting discussing the IPO price, which some sources are saying could go even higher.In early February, the social networking site filed regulatory documents as it looked to raise $5 billion from an IPO.Fasttrack to May 15 when Facebook increased the price range for its stock from $34 to $38 per share, up from its previous range of $28 to $35.The the north face jackets cheap move, which could give a market capitalization of as much as $104 billion, came amid growing investor excitement about the offering. Analysts are comparing the frenzy surrounding Facebook's IPO to Google's (NASDAQ:GOOG) in 2004. IPO in history, beating AT Wireless' (NYSE:T), whose 2000 IPO raised $10.6 billion.The social network is scheduled to begin trading on Friday. Facebook will trade on the NASDAQ under the symbol FB.The company, founded at Harvard by Mark Zuckerberg, plans to sell 337.4 million shares, or 12.3 percent of the company, outstripping other big Internet IPOs.Groupon (NASDAQ:GRPN) north face on sale tapped investors for $700 million and Zynga (NASDAQ:ZNGA) raked in $1 billion.The IPO comes amid concerns from some investors that Facebook hasn't yet been able to monetize the increasing number of users who access the social network on mobile devices such as smartphones.A host of Wall Street banks are underwriting the offering, including Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) serving as leads.After the offering, Zuckerberg will remain Facebook's single largest shareholder and he will control the company through 57 percent of its voting stock.Based on the high end of the price range, he may receive about $1.15 billion from the stock he is selling.Facebook generated $3.71 billion US in revenue last year.Proactive Investors North America Inc, trades as "Proactiveinvestors USA Canada".You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here