Facebook, the world's largest social networking site, has announced plans for a stock market flotation. Facebook filed its intention to float with the Securities and Exchange Commission after the US stock markets clogged. According to Mr. Zuckerberg Facebook was not originally formed to be a corporation. It was built to achieve a social work to make the world more open and linked.
The final amount Facebook will raise is likely to change as Face book’s bankers weigh the investor insist for the shares over the imminent months. Facebook just eight years old and started by Harvard University students now has 845 million users and in last year complete a profit of $1bn . Releasing much more detailed information on its finances will become part of the Face book’s duties as a publicly listed firm.