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Facebook IPO values company between $85-95 billion

  • Facebook has set the share price for its forthcoming initial public offering (IPO) at $28 to $35 per share.

    The company has been valued in the range of $85 to $95 billion.

    The IPO is set to be the largest ever for an Internet firm, overtaking Google’s valuation of $23 billion in 2004.

    Facebook is set to list on the Nasdaq with shares reported to start trading on May 18.

    The social networking site boasts more 900 million users worldwide and made a profit of $1 billion last year.