Eight years after Mark Zuckerberg launched Facebook from his Harvard dorm room, the 27-year-old on Wednesday announced he is selling shares in the social network at a price that values his creation at up to $100bn.The new IPO hopes to raise $5 billion dollars (which would boost Facebook's value to almost $100 billion), making this the largest Internet IPO on record.
Mark Zuckerberg owns 28.2% of the soon-to-be-public company, and is its single largest shareholder. If Facebook raises money at a high-end valuation of $100 billion dollars, Mr. Zuckerberg's stock would be worth $28 billion
Facebook's business:
Facebook had 845 million users at the end of December and 483 million people were using it every day. The company had revenues of $3.7bn in 2011, up from $1.97bn in 2010, and made a profit of $1bn, up from $606m in 2010.
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