Saturday, May 25, 2024
HomeTechFacebook Valued At Up To $95B

Facebook Valued At Up To $95B

(AP) – Facebook, the company that turned the social Web into a cultural and business phenomenon, is worth as much as $95 billion, according to the price range for its upcoming initial public offering of stock.

Facebook’s IPO, expected in a couple of weeks, would be the biggest ever for an Internet company. Facebook disclosed the price range of $28 to $35 per share in a regulatory filing Thursday.

At the high end, Facebook and its current shareholders could raise as much as $13.58 billion — far more than the $1.9 billion raised in the 2004 offering for current Internet IPO record-holder Google Inc. The IPO valued the company at $23 billion. Google is now worth about $200 billion.

Facebook Inc.’s IPO has been highly anticipated, not just because of how much money it will raise but because Facebook itself is so popular. The world’s largest online social network has more than 900 million users.

CEO Mark Zuckerberg, who turns 28 this month, has emerged as a wunderkind leader who’s guided Facebook through unprecedented growth from its scrappy start as an online hangout for Harvard students.

Facebook‘s offering values the company at $76 billion to $95 billion, based on the expected number of Facebook shares following the IPO. That’s about 2.74 billion, according to Renaissance Capital, an IPO investment adviser. The value is set by multiplying the number of shares by the expected stock price.

The Heat Reporter
The Heat Reporterhttp://theheatmag.com
Known in entertainment circles as "LA Dre", the Editor of The Heat Magazine works tirelessly to bring you the latest & greatest in entertainment news. He spent years in the industry & now brings some of that insider knowledge to his readers.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Melissa Ellis on CONTROL!!!
Arlene Culpepper, Asst. Editor-in-Chief on STRAIT JIGG: ‘Ova Ya Dome’ Mixtape Debuts
GI GI on Interviews
bestever2682 on Lil Kim Boycotts BET Awards
J. 'StraitJigg' Wineburg on 16 Year Old Becomes Face of Louis Vuitton
J. 'StraitJigg' Wineburg on 16 Year Old Becomes Face of Louis Vuitton
Arlene Culpepper, Asst. Editor-in-Chief on Jack Spratt: A Genuine New Orleans Original
Arlene Culpepper, Asst. Editor-in-Chief on D.E.T.D.F.’s Annual Easter Egg Hunt
J. 'StraitJigg' Wineburg on Mike Tyson Covers Esquire Magazine (Photo)