Facebook is reportedly planning to file for its much-awaited initial public offering, with The Wall Street Journal reporting today that the filing could happen as early as next Wednesday. The report, citing people familiar with the matter, also indicates that the social networking powerhouse is considering Morgan Stanley to lead the deal.
Facebook is already a juggernaut, and the IPO could raise $10 billion and command a valuation for the company in the range of $75 billion to $100 billion. (Just to put that number in perspective, Amazon.com currently boasts a market value of $88 billion).
That would make it the largest IPO on record, according to the Journal. Facebook operates an engineering center in Seattle with about 70 employees. It employs about 3,000 people worldwide.
Chatter has accelerated about a possible filing in recent days after trading of the company’s private shares in the secondary market came to a halt on Monday.
The tech industry has been waiting with patience for a Facebook IPO, with some hope that the offering could reignite the market for public offerings from tech companies.