The news comes from several sources speaking to TechCrunch. This date is in-line with prior reports, although, of course, everything depends on SEC approval.
Earlier reports said that Facebook was aiming to go public on NASDAQ during the third week of may, with one source telling CNBC that the social networking giant was looking at either the 17th or the 24th of that month.
Sources also said that Facebook will be valued at around $100 billion. That reflects current levels of trading in the secondary markets, but it also matches a report on how Facebook won over Instagram. As part of the negotiations, the companies discussed a potential value of about $104 billion for Facebook.
However, as Lise Buyer, a former Google executive and the founder of the advisory firm Class V Group said “I hope they [Instagram] didn’t agree to this deal because of Facebook’s valuation on the secondary markets. It’s still unclear if there’s a strong correlation between pricing on the secondary markets and the public market.”