UPDATE: Facebook has confirmed the offering. A press statement reads, “Facebook, Inc. is offering 180,000,000 shares of its Class A common stock and the selling stockholders are offering 157,415,352 shares of Class A common stock. We will not receive any proceeds from the sale of shares by the selling stockholders. This is our initial public offering and no public market currently exists for our shares of Class A common stock. We anticipate that the initial public offering price will be between $28.00 and $35.00 per share.”
Facebook is planning to set the price for its initial public offering, an event rumored to take place later this month, between the high-$20s and mid-$30s per share, according to a report. The share price would value Facebook between $85 billion and $95 billion.
The official numbers will be announced after the market closes Thursday, people familiar with the matter told The Wall Street Journal .
If the numbers are accurate, Facebook is set to become the most valuable U.S. Internet company at the time of an IPO. That record is currently held by Google, which was valued at $23 billion when it went public in 2004.
2004: First Offers Turned Down
Facebook launches with humble beginnings that most people have seen dramatized in The Social Network by now. It was a small social site backed by only a little money, and limited just to the undergrads at Harvard. Right out of the gate, Facebook turned down offers from an unknown investor and Friendster, each offering $10 million. This was, of course, when the company was still called TheFacebook.
Image courtesy of Flickr.
For more Business coverage:
- Follow Mashable Business on Twitter
- Become a Fan on Facebook
- Subscribe to the Business channel
- Download our free apps for Android, Mac, iPhone and iPad