Facebook Could File For an IPO Next Week (Report)
The event could create 1,000 new millionaires and be a $24 billion windfall for co-founder Mark Zuckerberg.
Facebook could file for an initial public offering as early as next week, the Wall Street Journal reported on Friday, Jan. 27.
Citing a person familiar with the matter, the Journal said Facebook is eyeing Wednesday for filing paperwork and its looking at a valuation of $75 billion-$100 billion.
Morgan Stanley is the "frontrunner for the much-coveted lead left position on Facebook's IPO documents to be filed with the Securities and Exchange Commission," according to the story.
Analysts speculate that an IPO could make co-founder Mark Zuckerberg worth some $24 billion, wealthier than each of the Google co-founders, Larry Page and Sergey Brin.
Given its penchant for equity-based compensation during its earlier years, about 1,000 of its 3,000 employees are expected to become instant millionaires off of a Facebook IPO.