Facebook, the dominant internet social networking company, is making plans to go public early next year at a vertigo-inducing valuation of over $100 billion, CNBC reported Monday. The Palo Alto-based web phenom could file registration papers with the Securities and Exchange Commission as early as October.
In January, Facebook said it expected to cross the critical 500-shareholder mark this year, and if it finishes 2011 over the line, it must file quarterly and annual reports with the SEC within 120 days after the end of the year. At the time, Goldman, which had invested $450 million in Facebook, said the company was worth $50 billion.
Today, Facebook is trading at an implied valuation of $80 billion on private, secondary markets like SharesPost, where employees and early investors sell shares to “accredited investors,” including banks and individuals worth over $1 million.