Facebook Targets May 17th For IPO Date

Facebook Targets May 17th For IPO Date

Alexia Tsotsis works for TechCrunch as a writer. She attended the University of Southern California in Los Angeles, CA, majoring in Writing and Art, and moved to New York City shortly after graduation to work in the Media industry. After four years of living in New York and attending courses at New York University, she returned to Los Angeles... â†' Learn More

This just in: according to multiple sources close to the company, Facebook is eyeing IPO on May 17th â€" depending on whether the SEC gets back to it on whether or not all the reams of paperwork are in order.  This is in line with earlier reports that the company was going to hit NASDAQ during the third week of May.

According to the same sources, Facebook will be valued at around $ 100 billion, reflecting current levels of trading in the secondary markets (and avoiding SEC scrutiny). Other reports say that the company wants to raise $ 10 billion at a $ 100 billion valuation, but we like Kara Swisher, are hearing that it will be less.

“Investors want as high a price as possible so that the secondary market won’t look like a problem,” said a source. With 2.51 billion fully-diluted shares outstanding, the valuation desired would price the company at around $ 40 a share.

We’re also hearing that Millenial Media IPO was pushed up to early April due to mutual underwriters Morgan Stanley and Goldman Sachs wanting to “make room” for Facebook. Mobile strategy issues and issues around privacy are of the most concern for institutional investors.

This biggest issue with these rumors lot of stuff can happen in weeks, including the collapse of the European economy, another oil crisis or the assassination of Archduke Franz Ferdinand.

Updating.

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