According to the WSJ Facebook will begin disclosing financial information or stage an initial public offering by April 2012, according to a new 100-page private-placement memo now being distributed to potential investors in the company.
The social-networking company said in the document that it intends to breach a critical 500-shareholder limit this year.
Under SEC rules once a company has more than 500 shareholder’s the company must file financial information, even if their shares don’t trade publicly.
This comes on the heals of Goldman’s investment in Facebook which put the companies valuation at $50 Billion.
Reuters is reporting that Facebook in information supplies to Goldman reportedly earned $355 million in net income in the first nine months of 2010 on revenue of $1.2 billion.
That would be around $500 Million for the year or a 100X earnings based on a $50 Billion valuation
In other news today it appears that Linkedin is planning on filing for its own IPO in the first quarter of 2011.