Report: Facebook readies IPO filing, looks to make up to $10 billion
That's, like, ten thousand millions, right? Anyway, Facebook could file for its long-awaited initial public offering (IPO) as early as next Wednesday, according to The Wall Street Journal (WSJ), choosing Morgan Stanley as its lead underwriter. Here's the clincher: According to "people familiar with the matter," the social network looks to be valued between $75 and $100 billion.
And you thought the Zynga IPO was huge for a tech company. However, the timing for the filing is still a discussion, according to WSJ's nameless sources. Facebook looks to make up $10 billion from the IPO alone, WSJ reports, but both the social network and Morgan Stanley declined to comment.
Facebook going public would only further solidify its dominance as a social gaming platform, and it wouldn't be surprising to see a nice chunk of that $10 billion go toward social game efforts. Why? We can't imagine how much Facebook makes from its 30 percent cut of all Facebook Credits, but recent reports put it in the $470 million range. So yeah, definitely expect Facebook to throw some more cash social games.
[Image Credit: Huffington Post]
Are you surprised by how much Facebook reportedly looks to make? What do you think this will mean for Facebook games in the future? Sound off in the comments. Add Comment.