Facebook to begin process of going public this week

Flotation of around $10bn to occur later this year

The world's largest social network Facebook is to begin its much discussed public offering in May of this year, latest reports have suggested

Facebook will begin to file papers this week which will mark the first step as the website plans to go public.

According to the BBC the world's largest social network Facebook is to begin its much discussed public offering earlier than originally thought, with a May deadline now looking to be when the flotation of around $10bn will occur.

It is believed that the company will be valued between $75bn to $100bn and will be offering around $10bn, which if true, would make it one of the world’s biggest companies.

The widely reported public offering of the world's largest social network is seemingly set to take place in the coming months with Facebook's IPO to see the Twitter and MySpace rival record one of the highest stock launches in history with the company being valued at as much as $100 billion.

Facebook Figures

“The thing to take away isn’t that we don’t care [about business]," said Facebook founder and CEO Mark Zuckerberg in a recent interview. "People for years were asking me why aren’t we trying to make more money, I would say I’m trying to build a business for the long term and it was clearly the right strategy.”

With a user base of around 800 million individuals, a figure that is expected to hit a staggering 1 billion later this year as Facebook expands into emerging markets, Facebook has begun to capitalise on revenue streams in recent years with $4 billion generated during 2011.

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Source: BBC News