Facebook to File IPO on Wednesday - Report

Facebook may file its initial public offering on Wednesday, Dow-Jones reported on Friday. It quoted a source as saying the social-networking company could be valued at anywhere between $75 billion and $100 billion, and said both Goldman-Sachs and Morgan Stanley looked positioned to play a role in the rollout.

News organizations have been speculating about when the widely expected IPO might come. Marketwatch reported that trading in privately held Facebook shares has been suspended—something that might presage an IPO in the coming days.

Facebook has an estimated 800 million users globally and is by far the top social-networking site. Analysts have said the public offering could be one of the biggest in history.

“It’s absolutely massive,” Scott Sweet of IPO Boutique was quoted by Marketwatch as saying. “The mere drop of a hint will cause pandemonium.”

Facebook announced two hires this week—a managing editor, as well as an advertising head, former GOP social-media consultant George Alafoginis.