Facebook hikes share price ahead of IPO

Change could value Facebook at over $100 billion.It has now set a price of shares in the company to between $34 and $38, up from between $25 and $35. It attributed the change to strong demand ahead of the IPO. Trading in the shares is expected to begin on Friday, after a couple of years of anticipation from investors.A valuation as high as $100 billion would put it above Disney and Ford. It's listing on the NASDAQ will rival Amazon's current $100 billion valuation.Recent questions about Facebook's long-term ability to generate revenue from its service have not dampened the interest from investors. Currently, Facebook's revenue is about 1 percent of what its market value is expected to approach.It has singled out mobile as its most important area for expansion, and has been found to be experimenting with numerous ways to generate new streams of revenue in recent weeks.The service boasts over 900 million users worldwide.Permalink | Comments

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