The Facebook IPO may be closer than you think. On Monday the Wall Street Journal reported that Facebook, “had not selected bankers to manage what would be a very closely watched IPO. But it had drafted an internal prospectus and was ready at any moment to pull the IPO trigger.” Facebook had discussed a public float with bankers from Silicon Valley but Founder and Chief Executive Officer Mark Zuckerberg has not finalized any plans from Palo Alto. The IPO is likely to stir up controversy as other recent social media IPO’s such as Pandora, Groupon, and LinkedIn continue to trade below their public debut levels. However, with reports of Facebook’s revenue doubling in the first 6 months of 2011 to $1.6 billion the company appears poised to raise an estimated $10 billion on a $100 billion valuation, more than double the valuation of Hewlett-Packard. Based on an internal report back in January Facebook will exceed 500 shareholders this year, and that in accordance with SEC regulations, “it will file public financial reports no later than April 30, 2012.”
Winner of the prestigious American Association of Law Libraries (New Product) Award, Fastcase for iOS, Android, and Windows Phone is used by more attorneys than any other legal app according to the ABA. Anyone may use the app for free to access Fastcase's comprehensive legal research database on the go.