Facebook Goes Public With IPO Of $5 Billion [Headlines]
Social media giant takes next steps in the business world.
Facebook has finally gone public. On Wednesday, Facebook filed the prospectus for its initial public offering. The social giant seeks to raise $5 billion in initial funding. That’s in-line with some of the largest IPOs in technology history, and it comes eight years after the company was first launched in the Harvard dorm room of CEO Mark Zuckerberg. According to the company’s IPO filing, in 2011, it recorded revenue of $3,711 million, operating income of $1,756 million, and net income of $1,000 million. Wired