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Facebook IPO set to raise $10 billion

Looking for a valuation of $100 billion, according to reports

Social network Facebook is looking to raise $10 billion for a $100 billion valuation with an upcoming initial public offering.

A report by the Wall Street Journal suggests that the IPO will take place between April and June next year.

"We're not going to participate in speculation about an IPO," Facebook spokesman Larry Yu told the paper.

The reports come at a time when social gaming company Zynga's IPO is also hitting the headlines. EA's head of HR Gabrielle Toledano has already predicted an exodus of key Zynga employees following its IPO.

"I expect a lot of game and tech companies will begin recruiting Zynga's talent after their equity becomes liquid," said Toledano.

"Competitors will make the case that they offer much more compelling opportunities for creative people."

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Rachel Weber avatar
Rachel Weber: Rachel Weber has been with GamesIndustry since 2011 and specialises in news-writing and investigative journalism. She has more than five years of consumer experience, having previously worked for Future Publishing in the UK.
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