Facebook may finally be ready to go public.
Facebook is planning to file IPO registration papers next Wednesday, according to the The Wall Street Journal. Few additional details so far, except that Morgan Stanley (MS) is expected to be lead underwriter with Goldman Sachs (GS) "also likely to play a major role.
[Update: WSJ is now hedging a bit on that specific date, saying that "timing is still being discussed."]
The social network would expect a valuation of between $75 billion and $100 billion, although such information wouldn't be put in the initial registration document. It may seek to raise upwards of $10 billion through the offering -- making it the largest technology IPO of all time (albeit not close to the largest overall IPO).
An investment banking source tells Fortune that he also has heard rumors about Facebook filing next week, but was unable to confirm.
The report is sure to get Silicon Valley hyperventilating, since Facebook is expected to be the largest tech IPO of all time. But it's worth remembering that speculation about this deal has been rampant for months, and there have been more than a few false alarms. Earlier this week was a report about how Facebook had temporarily halted secondary trades of its private shares for a three-day period, causing some to expect the filing to come in that window. It didn't happen, with trades expected to resume on Monday.
Just yesterday, we engaged in the same guessing game, based on Facebook COO Sheryl Sandberg agreeing to speak at a Harvard Business School event in May. If Facebook files next Wednesday, our assumption was incorrect. If it doesn't, then the waiting game just continues...
Sign up for my daily email newsletter on deals and deal-makers: GetTermSheet.com
Michael Spence, a Nobel laureate in economics and a professor at NYU, thinks he's found a breakthrough idea on creating jobs.
By Brian Dumaine, senior editor-at-large
FORTUNE -- One common refrain heard at this year's World Economic Forum in Davos: "we need to create more jobs." That's hardly a controversial stance -- after all no one is really against creating jobs. The sense here is that if we can just figure MORE
Jan 27, 2012 1:17 PM ET
Bain Capital has been getting kicked around all month, and now it's finally beginning to play some public defense.
Steve Pagliuca, one of the firm's managing directors, was interviewed in Davos today by Bloomberg TV, saying that criticism of his firm "will pass." He also said that the focus on private equity's job creation record -- a focus championed by Mitt Romney -- is misguided: "Bain Capital is not trying to MORE
Dan Primack - Jan 27, 2012 12:01 PM ET
The President's effort to make natural gas a viable alternative to gasoline and diesel fuel in cars and trucks could change the fate of the ailing industry.
By Cyrus Sanati, contributor
FORTUNE -- President Obama's newfound commitment to natural gas could be the spark needed to reignite the fledgling natural gas industry, while at the same time breathing life into an array of new businesses. Overproduction, coupled with anemic demand, has recently MORE
mvella1271 - Jan 27, 2012 10:08 AM ET
Eastman Chemical Co. (NYSE: EMN) has agreed to acquire Solutia Inc. (NYSE: SOA) for $4.7 billion in cash and stock. The deal represents a 42% premium over yesterday's closing price for Solutia shares. www.solutia.com
Radiate Media (f.k.a. Matchbin) of Bountiful, Utah has acquired Nokia's media advertising business for an undisclosed amount. www.nokia.com
Industrial Growth Partners has sold O'Brien Corp. to AMETEK Inc. (NYSE: AME) for approximately $175 million. O'Brien Corp. is a MORE
Dan Primack - Jan 27, 2012 9:52 AM ET
* Ridiculous: The CEO bankruptcy bonus
* Rotten Apple reply: Tim Cook's letter to employees
* Better things to do: A who's who of Davos absentees
* Dan Shapiro: Your "company culture" is a meaningless platitude
* Morning Call: U.S. futures point higher, London falls early, European shares climb and the Nikkei slips.
* Brad Stone: Amazon's hit man
* Rodolfo Rosini: The age of AngelList
* New site alert: StartupDataTrends.com
* H.R. 4286: Newt's laws for governing a space colony
* Disappointing: Twitter MORE
Dan Primack - Jan 27, 2012 6:47 AM ET
Critics say the popular funds are causing stocks to swing wildly together. Finding proof is another matter.
FORTUNE -- Are exchange-traded funds a prime culprit in one of the signature afflictions of the markets today -- the tendency of huge swaths of stocks or other assets to swing dramatically up or down at the same time? Critics are pointing their fingers at ETFs. But evidence for their nefarious role is lacking.
There's MORE
Scott Cendrowski, writer-reporter - Jan 27, 2012 5:00 AM ET
Private equity firm losing its eponymous co-founder.
Fortune has learned that Michael Moran is not expected to be a general partner on the next fund raised by Brockway Moran & Partners, the mid-market private equity fund he co-founded by Peter Brockway in 1998.
Sources did not give a reason for the move, but did add that Moran is expected to continue working on legacy portfolio and firm responsibilities.
Boca Raton, Fla.-based Brockway Moran raised $700 million for its MORE
Dan Primack - Jan 26, 2012 2:21 PM ET
For the first time since anyone can remember, China has not sent a high level official to this Alpine gathering of the world's top leaders and business titans.
By Brian Dumaine, senior editor-at-large
FORTUNE -- Whispered in the halls of the World Economic Forum's elegant Congress Center this year: Where are the Chinese? For the first time since anyone can remember, China has not sent a high level official to this Alpine MORE
Jan 26, 2012 1:55 PM ET
What Harvard's calendar may tell us about Facebook's IPO.
Conventional wisdom is that Facebook will file for its IPO within the next few months. But, if so, someone should tell Sheryl Sandberg.
Sandberg is the social network's chief operating officer, and its second-most powerful executive after Mark Zuckerberg. She also was just announced as the keynote speaker at Harvard Business School's Class Day, which takes place on May 23.
It would be highly MORE
Dan Primack - Jan 26, 2012 1:51 PM ET
Every morning, discover the companies, deals and trends in tech that are moving markets and making headlines. SUBSCRIBE
Receive Fortune's newsletter on all the deals that matter, from Wall Street to Sand Hill Road. SUBSCRIBE
Covering the digital giants of Silicon Valley and beyond, an in-depth look at enterprise companies, and the startups disrupting them. Written by Michal Lev-Ram and emailed twice weekly. SUBSCRIBE
Anne Fisher answers career-related questions and offers helpful advice for business professionals. SUBSCRIBE
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.23 | -0.07 | -0.96% |
| Ford Motor Co | 12.28 | -0.46 | -3.61% |
| Frontier Communicati... | 4.24 | -0.23 | -5.15% |
| Juniper Networks Inc... | 21.52 | -0.85 | -3.80% |
| Cisco Systems Inc | 19.56 | -0.27 | -1.35% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,667.50 | -67.13 | -0.53% |
| Nasdaq | 2,813.73 | 8.45 | 0.30% |
| S&P 500 | 1,315.95 | -2.48 | -0.19% |
| Treasuries | 1.92 | -0.01 | -0.73% |
.
