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Facebook IPO set to create 1,000 millionaires

Value of the company at its blockbuster public offering will be as much as $100bn

Facebook is planning to launch its IPO soon. The IPO may create as many as 1,000 millionaires in the company.
Facebook is planning to launch its IPO soon. The IPO may create as many as 1,000 millionaires in the company.

Facebook is expected to launch a blockbuster initial public offering soon, which could create at least 1,000 millionaires, according to Reuters.

The highly anticipated stock market debut is expected to value Facebook at as much as $100 billion, which is higher than just about any of Silicon Valley's most celebrated companies, from Netscape to Google.

Facebook, which was founded in a Harvard dorm room in 2004 by Mark Zuckerberg and his friends, has become the world's biggest social network with over 800 million members and revenue of $1.6bn in the first half of 2011.

Early venture capital investors such as Accel Partners, Greylock Partners and Paypal co-founder Peter Thiel, as well as Facebook's earliest employees, who were given ownership stakes, will see the biggest paydays from the IPO. Zuckerberg, 27, is estimated to own a little over a fifth of the company.

Facebook engineers, sales people and other staff are also likely to receive benefits from the IPO as they are given equity-based compensation as well as a salary.

Facebook's now employs over 3,000 people, up from 700 in 2008.

According to Reuters, people familiar with Facebook say that even by conservative estimates there are likely to be well over a thousand people looking at million-dollar-plus paydays after the company goes public.