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Facebook IPO filing rumored to come soon

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Social-networking giant Facebook is reportedly planning to file paperwork for an IPO with the Securities and Exchange Commission on Wednesday.

Facebook's IPO is pegged to be worth upwards of $10 billion. (Photo: Facebook)

Facebook is rumored to be filing its paperwork for its initial public offering—reported to be working to raise $10 billion, bringing its value to $100 billion, the Washington Post reported.

PHOTOS: The world's 10 largest IPOs

If they meet their fundraising goal, Facebook would become the sixth-largest U.S. IPO ever—sandwiched between AT&T Wireless and Kraft Foods.

The networking giant would also become the 15th-largest IPO in global history, behind Glencore International and ahead of Japan Tobacco.

Google currently holds the record for the largest technology IPO with $1.66 billion, according to Renaissance Capital. Facebook’s goal IPO would be more than six times that of Google.

If reports that Facebook’s market capitalization is between $75 billion and $100 billion, it would be larger than Disney’s $70 billion or General Motors’ $38 billion. Google’s is now at $187 billion, Microsoft is at $248 billion and Apple is at $422.47 billion.

READ MORE at WashingtonPost.com.

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