According to sources inside the company, Facebook CEO Mark Zuckerberg nearly set kicked off full-scale pandemonium at the Facebook offices when he recently told employees the long-awaited IPO was coming soon. Facebook has been teasing the market for the better part of a year with speculation that it would file its S-1 papers and sell stock publicly. For employees, that would mean a chance to finally cash in on all that stock.
The S-1 could go through in less than a month, sources say. There are a few reasons that Facebook is eyeing a short time line for filing. The markets have settled down after turmoil earlier in the year, for one. Facebook also crossed a major threshold recently. It now has more than 500 private shareholders, which means its financials have to be disclosed, per SEC rules. If the company has to do that, it makes sense to go all the way and go public.
The offering is likely going to be the biggest tech IPO since Google back in 2004. For those not in the market for highly over-priced stock, this will at least be a chance to get a good look at how profitable social networking and data mining really is.