By Hayley Tsukayama, Thursday, May 3, 12:38 PM
Facebook and its selling stockholders could raise $10.6 billion in the company’s initial public offering, according to the company’s filing.
The social network said Thursday that it has set its IPO pricing between $28 and $35, according to paperwork filed with the Securities and Exchange Commission. The company is offering about 337.4 million shares of its stock.
Who are Facebook’s major shareholders?: Facebook filed for its initial public offering Feb.1, giving us more insight how the tech titan operates. Here’s a look at some of the social networking giant’s shareholders and their affiliations with the company.
Inside Facebook’s Calif. digs: It’s been a little more than a month since the social networking giant finished moving into its new headquarters in Menlo Park, Calif. On the 57-acre campus, employees can be found checking their e-mail while running on treadmills or talking on cellphones in telephone booths. Of course, they’re working, too.
The company’s IPO would be the tech industry’s largest-ever, eclipsing Google’s 2004 market debut.
The company said in its Thursday filing that it estimates it will net around $5.6 billion from shares it offers, assuming a price of $31.5o per share, while selling stockholders could make around $5 billion. The offering would put valuation of the company at $77 billion to $96 billion, the Wall Street Journal reported.
Facebook had been expected to have a valuation of up to $100 billion, based on private trading on the exchange SharesPost, where the company stock had commanded prices of over $40 per share.