Facebook files for IPO

The anticipation is over. Facebook has filed for a $5 billion initial public stock offering.

The anticipation is over. Facebook has filed for a $5 billion initial public stock offering.

Facebook filed its S-1 Wednesday afternoon with the US Securities and Exchange Commission, and the excitement over the move subsequently crashed the SEC website. The IPO could boost the value of the company to between $75 billion and $100 billion, according to experts.

The company has chosen “FB” as it ticker symbol, and it will list its common stock on either the NASDAQ or New York Stock Exchange.

Facebook declined to comment on the filing.

On Tuesday, the social media giant hired Morgan Stanley to handle the IPO. The bank has done similar work for Groupon and Zynga.

Facebook reportedly hired Brunswick Group to manage communications for the IPO process. However, the agency has declined to comment on the reports.

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