Facebook to go for a $100 billion IPO

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One of the most closely-watched private companies in the world – Facebook, the social networking site has announced plans of going public by the first quarter of 2012. At $100 billion, Facebooks proposed IPO would be one of the largest in history, quadrupling Googles $23 billion IPO in the year 2004.

Sources close to the company reveal, Facebook is indicated to cross the (required) 500-investor threshold by this year and will then launch its formal IPO in advance of a public company reporting obligation by April 2012.

The official spokesperson for Facebook has declined to comment on this. However, in a conference held last month, the chief operating officer Sheryl Sandberg stated that a Facebook IPO was inevitable and is the next big thing to happen.

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