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You are hereNewsFacebook to become public listed company

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Facebook to become public listed company

"Facebook a brilliant achievement, but $75-$100bn?" said Rupert Murdoch on Twitter.

29 January 2012 | Category: Online

The social networking giant is expected to go public later in the year with an estimated £10 billion share flotation.

If the flotation goes ahead, it will be the largest public listed company since Google in 2004, when it raised $2 billion.

Facebook have yet to comment on its plans, but several high profile reports coming from reliable sources including the Wall Street Journal and Financial Times believe plans are well advanced.

The company which makes its money through advertising, is currently privately owned and doesn't have to publicize its accounts. However a leaked private memo showed that the company made a profit of $350million in 2010.

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