Facebook’s hotly anticipated initial public offering has been tentatively set for May 17, TechCrunch reports. The world’s largest social network is expected trade on the NASDAQ at a valuation close to $100 billion, according to TechCrunch’s unnamed sources close to the deal, making it the largest tech IPO in history so far and one of the largest, period.
Facebook filed paperwork for its IPO on February 2, but it typically takes 12 weeks for a new company to begin trading on the stock market, due to review by the Securities Exchange Commission and reworking of the company’s prospectus. The May 17 date falls in line with this.
