Social networking giant Facebook is set to begin the process of becoming a publicly listed company this week, with reported valuations of between $75bn (£48bn) and $100bn dwarfing Google's $1.9bn IPO in 2004.
The company is set to file papers with the US financial watchdog on Wednesday, according to the Financial Times. Its flotation at around $10bn would be one of the largest share sales seen on Wall Street in history. The largest ever was that of General Motors in November last year, which raised $20bn. The FT reported Facebook's shares have been changing hands in private secondary markets at levels valuing the company at about $80bn, but the company could be worth anything from $75bn-$100bn by the time it reaches Wall Street. It is possible if the market looks weak at the time of the...
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