Facebook Sets IPO Shares at $38

    News about the Facebook IPO passes on a billboard outside of NASDAQ in Times Square, New York, Tuesday, May 15, 2012.  Facebook on Tuesday increased the price range at which it plans to sell stock to the public, as investor enthusiasm in the offering continued to mount and boost the potential value of the world's most popular social network. (AP Photo/Seth Wenig)

    Seth Wenig / AP Photos

    Facebook confirmed that history will be made on Wall Street on Friday morning. The giant Web company will price shares of its stock at $38 each, making its IPO one of the biggest in the history of the stock exchange. The company is said to have raised $16 billion for the IPO, according to sources, and will sell 2.138 billion shares on the NASDAQ exchange, bringing its valuation over the $100 billion marker. The site is said to have 512 million active users who participate in a combined 3.2 billion likes comments each day, according to statistics from the first quarter of 2012.

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