Social media giant Facebook is set to file for its initial public offering (IPO) today (February 1st) and is expected to be valued at $100 billion (£63.6 billion).
It is thought that the social network will file the papers for an IPO with regulators including Morgan Stanley and Goldman Sachs later today.
The predicted value of the IPO varies between £3 billion as estimated by Reuters and £63.6 billion as stated by the Guardian and the Telegraph.
Facebook must file papers soon if it wants to put its shares on the stock market in May this year.
The social network is expected to put a ten per cent stake in the firm on the market, for between $7.5 billion (£4.6 billion) and $10 billion (£6.4 billion).
Commenting on the fact that the majority of Facebook's income will be derived from advertisers, WPP chief executive sir Martin Sorrell told the Guardian: "It certainly is one of the most powerful, if not the most powerful branding medium. It is, however, a word of mouth or PR medium."
A recent study by Deloitte found that Facebook boosts the British economy by £2.2 billion a year and supports 35,200 jobs in the UK.
The predicted value of the IPO varies between £3 billion as estimated by Reuters and £63.6 billion as stated by the Guardian and the Telegraph.
Facebook must file papers soon if it wants to put its shares on the stock market in May this year.
The social network is expected to put a ten per cent stake in the firm on the market, for between $7.5 billion (£4.6 billion) and $10 billion (£6.4 billion).
Commenting on the fact that the majority of Facebook's income will be derived from advertisers, WPP chief executive sir Martin Sorrell told the Guardian: "It certainly is one of the most powerful, if not the most powerful branding medium. It is, however, a word of mouth or PR medium."
A recent study by Deloitte found that Facebook boosts the British economy by £2.2 billion a year and supports 35,200 jobs in the UK.
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