Business, Economics and Jobs

Facebook IPO date set for May 18


Facebook CEO Mark Zuckerberg arrives at Japan's Prime Minister Yoshihiko Noda's official residence prior to a meeting with the Prime Minister in Tokyo on March 29, 2012. Facebook's IPO date has been set for May 18.



Facebook's IPO date has been set for May 18, the Wall Street Journal reported Wednesday

The company's much-anticipated initial public offering is expected to raise as much as $10 billion, and is one of the largest ever technology IPOs, Forbes reported. It is expected to be valued at $100 billion, a bigger IPO than Groupon, Zynga and Google, according to the Hollywood Reporter

More from GlobalPost: Facebook IPO: Five things you should know

Facebook will kick off its IPO road show on Monday, May 7, when it will meet with banks, mutual funds, and other major investors to present their business and growth strategies in the hopes of selling large shares, according to the International Business Times. Mark Zuckerberg, the social networking giant's CEO, is expected to make appearances at some of the road show meetings, according to the Wall Street Journal. 

The presentations are projected to last eight or nine days, the New York Times reported, and will take place in New York, Boston, San Francisco, Chicago, Baltimore, and possibly Los Angeles. 

More from GlobalPost: Facebook earnings and revenues slide ahead of IPO

In a filing last month, Facebook valued its shares at $30.89 each as of January 31, an increase from $29.73 in December 2011, CNN Money reported. 

However, the company may be seeing a bit of investor doubt, according to the the Hollywood Reporter: In the first quarter of 2012, the company's profits dropped 12 percent to $205 million as expenses piled up. 

On Tuesday, Zuckerberg announced a new platform for organ donors on Facebook, to help raise awareness about the over 7,000 people who die each year while waiting for an organ transplant, IBT reported. 

More from GlobalPost: Facebook makes it easier to become an organ donor (VIDEO)

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