Facebook IPO launch set for May 18
By Eric Pfeiffer
Facebook
founder Mark Zuckerberg
Facebook
will launch its initial public offering (IPO) on May 18, with a corporate
roadshow to mark the announcement beginning on Monday, May 7.
The IPO is expected to be the largest ever by an
Internet-based company. The date of the launch has remained somewhat in limbo
as Facebook awaited approval from the Securities and Exchange Commission (SEC)
of the social networking site's S-1 filing, according to CNET.
The news was first reported via The Wall Street
Journal's Twitter account.
Forbes contributor Darcy Travlos questioned the move, saying it might trouble Facebook's
investors after reports that the company has experienced "slowing
metrics" and recently acquired the
photo-sharing site Instagram for $1 billion.
Facebook's roadshow, in which the company
will offer a presentation to potential investors, is expected to be held in New
York City, Boston, San Francisco, Chicago, Baltimore and Los Angeles, according
to the New York Times. The first meeting will likely take place on Monday in New York at banking
giant Morgan Stanley.
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