Social networking giant Facebook is approaching a $US100 billion valuation, according to a new report in the Wall Street Journal.
The report claims that the business is growing faster than expected, and could turn over $US2 billion this year alone – this would exceed the numbers presented to investment bank Goldman Sachs earlier this year.
As a result, the report speculates that Facebook’s IPO could see the company valued at $US100 billion, with a move to go public in the spring of 2012.
While Facebook has said it is still awhile away from going public, the company has been boosting revenue through a number of different initiatives, and the investment with Goldman Sachs earlier this year has put it on track for a public offering.
A $100 billion valuation would make Facebook one of the biggest tech companies in the world.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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