Report: Facebook prepares for IPO in May

The signs are that the social-networking giant is preparing to make an initial public offering on the stock exchange in May
Written by Larry Dignan, Contributor on

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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