Facebook to go public in May

The world’s largest social network celebrated its eighth birthday in February, and now the company is getting ready to become the largest-ever U.S. Internet offering.

Facebook is halting trading its shares on secondary markets this week, as a previous step for its initial public offering in May, people familiar with the matter said, Bloomberg reported.

The final sales figures have not been announced yet, nor the exact date in May, as it all depends on potential investors and discussions with the U.S. Securities and Exchange Commission, according to El Mundo. Facebook also expects to file one more amendment to its S1 registration statement.

On Feb. 1, Facebook filed its paperwork for an IPO, seeking to raise US$5 billion, which provides the company a valuation estimated at $100 billion, according to Mashable.

The Facebook IPO filing also revealed important details, which were kept private before. The company made $1 billion in 2011 on $3.71 billion in revenue and has 845 million active users globally. The salaries of executives were also included: founder Mark Zuckerberg ($500,000), COO Sheryl Sandberg ($300,000) and CFO David Ebersman ($300,000).

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