Facebook’s IPO might just be as big as predicted—or even bigger.
The tech company is raising its stock price range for the public, with a range from $34 to $38 per share, instead of $28 to $35. At the upper range, the sale could raise nearly $12 billion—more than some had expected and over 10 times Google’s $1.67 billion IPO in 2004.
Some investors have worried about growth potential for the company, which will likely finish its initial stock offering Thursday and begin trading Friday with the ticker symbol “FB.” But the adjustment of share price reflects intense interest in the stock, which could value the company at over $100 billion.
What comes next? As the New York Times reports, Facebook’s real moneymaker is the data it has collected on its 830 million users worldwide. How it will use that data to make even more money—that’s a question even the most savvy investors can’t answer … yet.
Video produced by Krishnan Vasuvedan.