Facebook Sets IPO Date To May 18
Posted on Wed May 2, 2012 09:00 AM PDT

facebook200.jpgLOS ANGELES, California (x17online) - Facebook is planning to go public on May 18 in what's considered the most anticipated public offerings since Google went public in 2004.

The social networking site is ready to start an IPO road show beginning May 7, where they will hold a series of meetings with prospective institutional investors to stir interest in the company's stock. Facebook's founder and chief executive Mark Zuckerberg is expected to attend some of the meetings.

The news follows Facebook's purchase of the mobile photo-sharing application Instagram for $1 billion last month, their largest acquisition to date.

With going public, the company hopes to raise around $5 billion through this move, boosting Facebook's value to $100 billion.