Business Finance

Facebook files $5 billion IPO, values the company at nearly $100 billion

The rumor, speculation and awkward Winklevii jokes can end (at least for now) as Facebook has officially filed for its public offering. Underwritten by Morgan Stanley and Goldman Sachs amongst others, the internet's most popular site seeks to trade under the stock symbol "FB" when it goes public later this year. The company is seeking to raise $5 billion, according to this early filing, amounting to a lofty (and still tentative) valuation north of $50 billion. If that turns out to be accurate, though, Zuck will be one (especially) rich man: with a nearly thirty percent share in the company, his net worth would balloon to almost $30 billion.