Ever since Facebook announced it would be filing for an IPO Feb. 1, speculation has been widespread as to when the company would officially go public. With reports stating the company was aiming for late May coming as far back as January, TechCrunch today cited multiple sources close to the company zeroing in on May 17 as the target date for the IPO.
Facebook's offering still has to be cleared by the U.S. Securities and Exchange Commission, but pending approval the company was looking to bring in $5 billion from the filing, obliterating Google's initial offering of $1.9 billion in 2004 that had set records for an internet company.
The company has hardly been idle since the initial announcement, making huge waves with its purchase of Instagram for $1 billion ten days ago and announcing its Listen button to strengthen its music incorporation.
With Facebook being valued at around $100 billion, the company could debut on the market at as high as $40 per share.