Status Update: Facebook Files for $5 Billion IPO
The social network that started it all is finally going public, eight years after Mark Zuckerberg started the service in a Harvard dorm room.
Facebook filed papers for an initial public offering with an initial registration amount of $5 billion, according to a regulatory filing.
This puts it on track to be one of the largest initial public offering ever to come out of Silicon Valley, especially considering that the pricing isn't set and the final amount will likely increase based on investor demand.
The company - which has more than 845 million users worldwide - plans to list shares under the symbol FB.
So where is all that money going? Let's just say there are some Facebook employees who are about to be very rich. Seriously, the Los Angeles Times reported the IPO will mint more than 1,000 new millionaires among the company's 3,000 employees.
How's that for a status update? We bet they're liking it.
Megan Sayers is the managing editor for ModernMom. Follow her on Twitter @MeganSayers
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