Facebook looks to raise billions by going public

Facebook is hoping to raise close to $12 billion (9.2 billion euros) in an initial public offering (IPO).

BBC reported that Facebook has set the share price for its IPO at between $28 and $35 per share, valuing the company at between $85bn-$95bn. The IPO is set to be the largest ever for an internet firm, bigger than Google’s valuation of $23bn in 2004.

Deutsche Welle says that Investors are expected to flock to the highly anticipated IPO of Facebook, although analysts have been expressing concerns about the social network’s longer-term growth perspective. Last week, Facebook reported its first quarter-on-quarter slide in revenues in over two years.

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