Facebook Sets IPO at $86B

    FILE - In this May, 26, 2010 file photo, Facebook CEO Mark Zuckerberg talks about the social network site's new privacy settings in Palo Alto, Calif.  Dr. Ed Zuckerberg, father of Mark Zuckerberg, said in a radio interview Friday, Feb. 4, 2011, that Mark's early exposure to computers helped inspire his interest and expertise in technology.   (AP Photo/Marcio Jose Sanchez, File)

    Marcio Jose Sanchez / AP Photo

    It is now officially OK for Mark Zuckerberg to bathe in $100 bills. The Facebook CEO can’t help but be washing himself in cash as his company moves closer to an initial public offering, reportedly set for May 18. The social networking company revealed Thursday that it would value itself at $86 billion when it goes public, aiming for shares of stocks to be worth $28 to $35 each. The IPO would tower over Google’s 2004 offering of $23 billion. Initially thought to be aiming for around $100 billion, Facebook will list on the NASDAQ stock exchange, and Monday is said to begin a series of meetings with investors to drive up interest.

    Read it at The New York Times