Facebook Sets IPO Shares at $38

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.