Facebook Set to be the Largest Internet IPO in May
In May, there's going to be a large amount of trading in technology and internet stocks when Facebook is scheduled to make its debut on the New York Stock Exchange (NYSE). The social network company is said to have enough interest to raise $10 billion when the IPO begins trading. To make the comparison, Google was the largest internet IPO in history when they went public in 2004 raising $1.9 billion.
Currently, Facebook has over 845 million active monthly users, and continues to grow despite other social networking platforms entering the market to compete. Google+, Pinterest and Twitter have been the only other platforms drawing any substantial interest next to Facebook, but none have the active following. When Facebook goes public in what is expected to be May 2012, the company may be skyrocketing to a firm hold on the technology industry for a long time to come afterwards.
Facebook just reported a net income of $1 billion on 3.71 billion in total sales in 2011. There's no hesitation among analysts that 2012 will be even more dominant.
Source - Wall Street Journal
Follow Technorati