Facebook Going Public

NEW YORK – Social site Facebook, founded in 2004 and presently enjoying some 800 million users announced it is filing for a public stock offering of 5 billion dollars on Wednesday.

Mark Zuckerberg, founder of Facebook, wants to cash in on the fuel that powers the engine of Internet commerce: personal data, which the Facebook social site has been collecting from its users for the past 7 years.

Anonymous sources at The Wall Street Journal reported that Facebook had originally considered offering 10 billion, thus valuing the company’s worth between 75 and 100 billion dollars.

Facebook is in negotiations with the bank of Morgan Stanley to conduct its offerings. Investors around the globe are eagerly anticipating the public offering and ready to make their stock purchases.

No word on how high (or how low) the initial cost per share will be.

As for Mark Zuckerberg, one thing is certain, if he isn’t a billionaire yet, he certainly will be come Wednesday; most likely many times over.

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