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, Facebook?s proposed IPO would be one of the largest in history, quadrupling Google?s $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.