Facebook IPO rumored for May 17 as company gets green light for HQ expansion

Facebook-founder-Mark-Zuckerberg-hi-res

Facebook is gearing up to go public, with a TechCrunch report suggesting it’ll be going ahead on May 17.

Citing “multiple sources close to the company,” the flotation on Nasdaq is apparently all set — providing the Securities and Exchange Commission gives it the all clear.

It’s believed the social networking giant will be valued at about $100 billion, with reports suggesting the company hopes to raise $5 billion with the flotation. By comparison, another tech giant — Google — raised $1.7 billion when it went public back in 2004.

According to the company’s IPO filing, Facebook CEO Mark Zuckerberg will be the biggest shareholder in the company, holding 28.2 percent of the shares. He’ll also enjoy a $1 million salary starting in 2013.

And more changes are afoot — this week the Menlo Park-based company was given the green light to expand its 57-acre campus and take on thousands of new workers.

Cnet (via the Palo Alto Daily News) reported that Menlo Park’s City Council unanimously approved the plans, which as part of the deal will see Facebook pumping some serious cash into the local community.

For the first five years, Facebook will make annual payments to the city of $800,000, followed by $900,000 over the next five years and $1 million after that.

Facebook also said it would make a one-off payment of $1.1 million for capital city improvement projects. It agreed to a host of other initiatives too, including the provision of job training and a high school internship program, economic incentives to encourage workers to use local businesses and improvements to public trails in the area.

The Menlo Park site was established last year and is currently home to around 2,000 employees.

It’s certainly a busy time for Zuckerberg and his team. Only last week the company made its biggest ever acquisition, snapping up photo-sharing company Instagram for $1 billion. Zuckerberg is said to have sealed the deal pretty much by himself.

Facebook was co-founded by Zuckerberg in 2004 while he was studying at Harvard. Its rise in the Internet world is a phenomenal story, with the social networking site now boasting 845 million monthly active users around the world, with a colossal 250 million photos being uploaded every single day.

Gaming

Has it really been 17 years? The past, present, and future of the Xbox

From DirectX Box to 720, it's been a long, strange trip for Microsoft's Xbox gaming console. Here is what happened, from its odd beginnings to the rumored Scarlett console with streaming.
Cars

Toyota leads $1 billion investment in Uber’s self-driving tech division

In a move that has been a long time coming, Uber filed its S-1 documents, which sets the stage for the company to finally go public with an initial public offering. The company could be valued at more than $100 billion.
Mobile

The Department of Justice may prevent the T-Mobile-Sprint merger

T-Mobile and Sprint are getting closer to merging. After a few failed attempts, the two companies announced their merger at the start of 2018. The new T-Mobile could be better positioned to take on the likes of Verizon and AT&T.
Computing

Microsoft accelerates carbon reduction plans in new sustainability push

Microsoft wants to accelerate its sustainability goal of becoming a zero-carbon company. To reach those goals, Microsoft is doubling its self-imposed carbon tax to incentivize business divisions in making sustainable choices.
Social Media

Looking to officially rid your inbox of Facebook messages? Here's how

Deleting messages from Facebook Messenger is almost as easy as scrolling through your News Feed. Here, we show you how to delete an entire conversation or a single message, both of which take seconds.
Social Media

LinkedIn: Now you can express love, curiosity, and more with new Reactions

LinkedIn is following in the footsteps of Facebook (three years later!) with the rollout of new reactions that give users more ways to express themselves when responding to posts in their feed.
Social Media

Twitter’s experimental Twttr app is even more popular than the real thing

Twttr, the new app that lets regular Twitter users test new features, is proving more popular than the main app, according to the company. The revelation suggests some of the innovations may land for all Twitter users soon.
Social Media

Messenger and Facebook, together again? Facebook tests integrating chats

Longing for the old days where Facebook and Messenger were one app? Facebook is testing an integrated chat option. While Messenger remains more feature-rich, the test brings some chat functionality back into the Facebook app.
Social Media

How to download Instagram Stories on iOS, Android, and desktop

Curious about how to save someone's Instagram Story to your phone? Lucky for you, it can be done -- but it does take a few extra steps. Here's what you need to know to save Instagram Stories on both iOS and Android.
Social Media

Facebook, Instagram, and WhatsApp went down worldwide for 2 hours this morning

Chaos erupted on the internet this morning, as Facebook, Instagram, and Whatsapp all went down from 6:30 a.m. to approximately 9 a.m. Thousands of users were unable to access the sites or send or receive Whatsapp messages.
Mobile

Skype screen sharing for mobile will let you share your swipes on dating apps

Skype is prepping the launch of screen sharing for mobile so you can share your swipes on dating apps, shop with buddies, or, perhaps, show a PowerPoint presentation to coworkers. It's in beta just now, but anyone can try it.
Social Media

Facebook toys with mixing Stories and News Feed into one swipeable carousel

Facebook's News Feed could look a lot like Stories if a prototype the social media giant is working on rolls out to users. The design change mixes Stories and News Feed posts into a full-screen slideshow that users swipe left to navigate.
Social Media

No more moon showers as Facebook Messenger’s dark mode gets official rollout

Facebook Messenger launched a dark mode last month, but to activate it you had to message the crescent moon to someone. Now it's been rolled out officially, and it can be accessed in a far more sensible way — via settings.
News

Twitter has revealed a launch date for its handy hide replies features

Twitter has revealed a launch date for a feature that lets users hide replies to their tweets. The hope is that it will help the original poster filter out offensive or irrelevant content from conversation threads.