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Facebook IPO, shares range from $28 to $35


(CBS News) Facebook updated its S-1 filing with the Securities and Exchange Commission Thursday - this time revealing the price for a share of the world's largest social network.

Facebook stock will range from $28 to $35 per share. The company's valuation will be from $85 billion to $95 billion.

According to MoneyWatch, Facebook will sell 337.4 million shares and could raise up to $11.8 billion, making it the largest Internet initial public offering (IPO) of all time.

The Wall Street Journal reported Tuesday that Facebook may be filing for its initial public offering May 18. The company is rumored to begin its IPO "roadshow" Monday.

Full coverage of Facebook at Tech Talk
MoneyWatch: Facebook prices IPO at $28 to $35 a share
Facebook IPO coming May 18, report says

Changes to Facebook's S-1 filing in April revealed that the social network now reports 901 million monthly active users, 300 million photos uploaded per day and 125 billion friendships. The filing also shows that 488 million people access Facebook via mobile products.

Also included in the revision was an update to reflect Facebook's purchase of the mobile photo-sharing app Instagram for $1 billion. A recent purchase of AOL patents from Microsoft was also added to the document.

Facebook filed for its IPO on February 1, with Morgan Stanley as its lead underwriter. The Menlo Park, Calif.-based social network has 901 million users and reported $3.7 billion in revenue in 2011.