Facebook Going Public

Facebook IPO
Facebook IPO

Facebook’s IPO has been eagerly anticipated as a defining moment for the latest Web investing boom.

Facebook just filed the preliminary prospectus for its long-awaited initial public offering (IPO). It is the biggest ever Internet IPO that could raise as much as $10 billion. Facebook’s Chief Financial Officer David Ebersman was in talks with multiple Silicon Valley bankers about the offering. Facebook’s impending initial public offering will likely net its 27-year-old founder Mark Zuckerberg a fortune of $28 billion. Zuckerberg owns 28.2 percent of the company, and is its single largest shareholder. On top of his stock, last year Zuckerberg was paid $1.49 million in salary, bonus and other compensation for his role as chief executive, according to the filing. Investment bank Morgan Stanley will act as lead underwriter, with Goldman Sachs and J.P. Morgan and others to take secondary positions. Shares are expected to hit the market in May.

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