Facebook to IPO in May, Report Says

Facebook’s ba-jillion dollar IPO looks due in May, according to a report by AllThingsD. Citing “multiple sources,” tech reporter Kara Swisher says that “if there are no issues,” such as a “turbulent market,” then the much-hyped initial public offering of Facebook is slated for the “third week of May.” In order for this to happen, AllThingsD notes, Facebook must file its IPO documents within the next month because the Securities and Exchange Commission generally takes a good three months to review.

Facebook’s IPO, if it happens and if it happens for the numbers speculators believe, will be the biggest stock market debut in technology history. The company is anticipated to raise a whopping $10 billion on a staggering $100 billion valuation.

Mark Zuckerberg’s social network, which now boasts a remarkable 800-million users, is expected to reach the one-billion user market in August, according to iCrossing senior analyst Gregory Lyons. The company generated close to $4 billion in revenue in 2011, with roughly one quarter of that profit.

Subscribe to our newsletter

We'll send you daily tech news and updates from Techvibes