May 4 - Facebook aims to raise about $10.6 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google and granting the world's largest social network a market value close to Amazon's.
Here's your morning call for this Friday as the April jobs report is out at 830 and economists are looking for a gain of 170000. Up from the 120000. Reported in March but let's face it online buzz is all about FaceBook we're going to focus on the social networking for. The company coming out that's the -- IPO plans and a slickly produced video to solve offering. Mark zucker and not getting dressed up -- sticking with his trademark -- -- -- his -- presentation which actually -- -- the company's chief financial officer. Zuckerberg discussed the creation of -- company. With a dash of modest -- The most interesting stuff that you care the most is actually what's going on in the lives of your friends or to people around you. And numb there was really anyway productive beyond on the web if you look assure themselves it was announced they're just ready to be indexed so. Even from very early on average building this thing for for one school there's this concept of what it could turn into you -- just weren't sure than that we review once did. What began as a dorm room project now seeks to dominate the world. Here particulars. FaceBook plans to raise about ten point six billion dollars the midpoint price range. Which is 31 dollars and fifty cents as the race goes from 28 to 35 dollars a share that values the company overall between 77. And 96 billion dollars all the -- Google. Which raised just less than two billion dollars in 2004. Based on putting a lot of emphasis on its mobile strategy in this is huge growth but this youthful asking for patience from potential investors. Mobile is a good example of this investment approach. We believe mobile usage of FaceBook is critical to long term user engagement so expect us to invest heavily. In our mobile product experience even if mobile monetization. Is uncertain and we'll take time. FaceBook these are becoming more infused in the daily lives of companies and individuals but modesty -- earlier from Zuckerberg disappears. When he addresses as more. So if you think five years and using FaceBook doesn't literally just mean using. -- to FaceBook app or -- software that we've written ourselves out. I think that we're gonna reach this point where almost every out that you used is going to be integrated with FaceBook in some way. -- -- Well the list of those is at a profit from the IPO starts at venture firm -- partners. Which is expected -- in for about one point two billion dollars -- others who reportedly -- include Mark Zuckerberg he is he a profit of close to one billion. Though the company says substantial majority will go toward paying taxes on exercising options. PayPal co-founder Peter Steele could make about 270 million. Goldman Sachs could reach 460 million and Zynga founder mark Pincus could take on 32 million dollars. Employees will have to wait at least five months to sell their shares pace than expected start trading on the NASDAQ under the ticker FB. That's may eighteenth in two weeks we'll get -- the rich get -- I'm Fred Katayama this is what.