Facebook IPO: Signs point to May

The supersized social network is eyeing a May launch date for a public offering that could value it at about $100 million, the Wall Street Journal reports.

A Lego model of the Facebook logo sits on the desk of a programmer inside the company's office in Palo Alto, Calif., in June 2009.
A Lego model of the Facebook logo sits on the desk of a programmer inside the company's office in Palo Alto, Calif., in June 2009. James Martin/CNET

Facebook's initial public offering is reportedly set for a May lift-off. Executives will get a nice payday -- at least on paper.

According to the Wall Street Journal, Facebook is eyeing a May launch date for an IPO that could value the company at about $100 million.

The social networking giant has been working up its filings with the Securities and Exchange Commission. Yesterday, Facebook updated its prospectus to note that Yahoo's patent lawsuit against the company could be material.

In addition, Facebook has halted trading on the private secondary market, according to Bloomberg.

All these steps point to a launch date that's just a few weeks away. The Journal cautioned that the actual week Facebook's IPO launches is fluid pending the go-ahead from the SEC.

This post originally appeared at ZDNet's Between the Lines under the headline "Facebook IPO nearing May pay day."

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