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

Digital Daily brings BOOM!ing word that Apple’s market cap has just exceeded Google’s, at $159.37 vs. $157.56.

Good on Steve Jobs and Apple. And kudos to Valleywag for saying, way back in 2007 that this would happen because “Apple knows how to design not just gadgets, but the businesses that go around them.”

We here at TiPb have been marveling at Apple’s unique 360 degree spherical integration for a while now as well.

We, like pretty much everyone else in the blogosphere, probably can’t help but wonder how Michael “I’d shut down Apple and give the money back to its shareholders” Dell is doing lately? But is all this market cap stuff really anything more than a seriously juicy headline? Any savvy investors reading, please enlighten me on how much more or faster this news, never mind the ever fickle and capricious dice-game that is the current market, will restore our childlike sense of wonder?