Facebook took a formal step toward joining the ranks of other public technology giants after filing for its eagerly anticipated initial public offering.
The company filed an S-1 form with the Securities and Exchange Commission today, officially declaring its intent to go public. Facebook plans to raise $5 billion through the IPO, according to the filing. The last major tech IPO was Google's, which raised $1.9 billion.
The S-1 pulls back the curtain on Facebook's business, providing investors with a formal glimpse into its financials. Last year, it saw revenue double to $3.7 billion, while its … Read more