Facebook begins $5bn IPO plan

Mark Zuckerberg set to be worth $28 billion
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Global social network Facebook has filed for a $5bn initial public offering which could value the company at $100bn.

Facebook filed for the IPO with the US Securities & Exchange Commission yesterday, which will soon see the company float on the stock market and its shares made available to buy publically.

The $5bn IPO would make Facebook one of the world’s largest companies by valuation, following Google’s $1.67bn IPO in 2004. Founder Mark Zuckerberg owns around 28 per cent of the company which will make him worth around $28bn. 

Facebook was founded in 2004. Today it has 845m monthly active users, and offices around the world.

In 2011 Zynga accounted for around 12 per cent of Facebook’s revenues, the social network announced.