Facebook will begin its plans to become a public company this week, and is likely to join the ranks of one of the largest public companies in the world, alongside the likes of McDonalds and Amazon.com.
The social networking site, that makes most of its money through advertising, will submit its paperwork this week, valuing the site at $75-100bn(US). This would dwarf the $1.9bn(US) made by Google when it went public in 2004.
Rumours of Facebook’s public offering have been circulating for months.
As a private company, Facebook did not have to publish its accounts. Reports last year suggested a net profit of $355m(US) on revenues of $1.2bn(US) in the first nine months of 2010.
