Facebook, the largest social media network in the world, may give an initial public offering (I.P.O) as early as next week, reported the New York Times and BBC News Friday.
Facebook is expected to have the largest Internet I.P.O in history at $10 billion. Previously, Google held the record at $1.67 billion offering in 2004, according to the Times.
Mark Zuckerberg and other students at Harvard University founded Facebook in 2004. Zuckerberg has shown hesitation to go public with the company in the past, however he may have no choice. According to an S.E.C rule, any company with 500 or more shareholders is legally obligated to disclose audited financial results within four months after the year it breaks that threshold. According to the Times, many believe Facebook went past that threshold in 2011. If it is true that Facebook has more than 500 shareholders, then legally it would need to disclose all financials by the end of April, 2012.
According to BBC News, it is likely Morgan Stanley will be the lead underwriter for the sale if it moves forward.
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