Facebook rumored to be readying $5 billion IPO

Facebook, the massive social network that counts one of the most popular iPhone apps of all time in their portfolio, is rumored to be readying a $5 billion IPO (initial public offering). Yes, Zuckerberg and co. might finally be ready to hit the stock market. The New York Times reports:

The Internet giant plans to list a preliminary fund-raising goal of about $5 billion, one of these people said. Another cautioned that any such number was largely a placeholder for determining filing fees, and that the final amount could differ significantly. And the company could still decide to delay its filing.

While huge, it narrowly misses out on being the biggest tech IPO ever -- that distinction belongs to Infineon. That is, of course, unless Facebook raises the stakes to $10 billion, then they'll own all the records. And the money.

Facebook has enjoyed enormous growth but not without growing pains, including and especially in regards to user privacy and transparency. Along with Google and Twitter -- the former public, the latter still private -- Facebook faces Federal privacy oversight for the foreseeable future.

Still, if Facebook does pull the trigger on this IPO, will that change anything? If any of us could buy stock and become a shareholder, does that make trusting our data to Facebook any easier, or any more difficult?

Source: New York Times