Report: Facebook prepares for IPO in May

Summary:The signs are that the social-networking giant is preparing to make an initial public offering on the stock exchange in May

Facebook's initial public offering is reportedly set for a May lift off.

According to The Wall Street Journal, Facebook is eyeing a May launch date for an IPO that could value the company at about $100m (£62m). The social-networking giant has been working up its filings with the Securities and Exchange Commission. On Tuesday, Facebook updated its prospectus to note that Yahoo's patent lawsuit against the company could be material.

In addition, Facebook has halted trading on the private secondary market, according to Bloomberg.

This story originally appeared as Facebook IPO nearing May pay day on ZDNet.com.


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Topics: Tech Industry

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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