Social media giant Facebook has filed for a $5 billion initial public offering (IPO), making many of its employees and investors millionaires, reports The Paypers. Author: Ashley Curtis
Social media giant Facebook has filed for a $5 billion initial public offering (IPO), making many of its employees and investors millionaires, reports The Paypers.
The IPO bid will be led by financial services firm Morgan Stanley, while other “main bookrunners” include Goldman Sachs, Bank of America, Merrill Lynch, Barclays Capital and JP Morgan.
In the firm’s S1 filing, Facebook revealed that it plans to set more of a focus on the process of online payment. While the business currently limits payments to gaming applications, it has expressed an interest in expanding payment options to other areas.
In addition, the firm plans to recognise those accessing the site from mobile devices, which could include serving up ads on the platform – something the social media network does not currently do.
However, for all the promise the $5 billion windfall brings, Facebook still holds some reservations about the future of the market.
According to Toronto Star, privacy, patents and mobile technology could bring “trouble”, while the stumbling block that is growth in China continues to be an irritant.
Furthermore, evolving privacy laws could change the way private information is viewed on the network – potentially causing numerous legal and operating headaches for the firm.