Facebook on Wednesday formally filed documents with the U.S. Securities and Exchange Commission in its first step toward an upcoming initial public offering. Facebook said it is looking to raise $5 billion with its IPO, which has been eagerly anticipated by the Street and by investors. Morgan Stanley, JPMorgan Chase, Goldman Sachs and others will underwrite the offering, and Facebook could raise as much as $10 billion following its IPO. Reports surfaced this past Friday stating that Facebook had plans to fi...

I attended the world premiere of The Social Network yesterday evening to kick off the New York Film Festival, and while I had reservations about the movie, I was still admittedly excited. After the movie finished, I heard one of the loudest applauses I have heard in a while. The writing was impeccably sharp, hilariously funny at times, and the movie was probably the best I have seen all year. Yes, there was a scene where Mark Zuckerberg got his business cards that said, “I’m CEO, Bitch!”, a...

Bloomberg is reporting that social network Facebook will postpone an IPO until 2012. Investors have been speculating that the world’s largest social network — valued at $24.9 billion — would go public sometime in 2011. Bloomberg writes, “Waiting lets Zuckerberg, 26, hone the skills needed to steer a company that issues quarterly results while facing criticism on such matters as user privacy.” Facebook declined to comment, and Zuckerberg himself said his company would offer an IPO...

The timing could not be better worse. In the middle of a privacy crisis which has seen countless users delete their accounts, a script for an upcoming movie based on the youthful exploits of Facebook’s Mark Zuckerberg has leaked out. Produced by Kevin Spacey, “The Social Network” portrays Zuckerberg (played by 26-year old Jesse Eisenberg) as a drunk satyriatic whose creation of the popular social networking site was spurred on by heartbreak after his girlfriend dumped him at the age of 19. ...