Facebook Inc is planning to raise more than $10 billion with their IPO. That would value Facebook the biggest social media networking website more than $100 million.
Non Identified spokesman of the company said the company may file IPO towards end of this year. Exact time and date is not determined yet.
Facebook is planning to capitalize on huge demand for social networking IPO, said Josef Schuster, founder of Chicago-based IPOX Schuster LLC.
“It’s obviously a very steep valuation,” said Schuster, whose firm invests in IPOs and oversees about $2.5 billion in assets. “They are realizing their window of opportunity, and they want to do it sooner rather than later.”