Facebook IPO Size
The size of Facebook’s forthcoming initial public offering will balloon by 85 million shares, which could increase its value to as much as $18.5 billion, a source told CNBC. The new numbers would make the company worth more than Disney, Ford and Kraft Foods, The Washington Post reported. Facebook’s 25 percent upsize will be filed with regulators at the Security and Exchange Commission Wednesday morning, CNBC reported. The news came after twin reports that GM planned to stop advertising on the social network because their ads didn’t boost car sales, and an Associated Press-CNBC poll found 57 percent of users said they never click ads when on the site.