Published on 15th May 2012
"Concerns about its rich valuation and uncertain mobile strategy be damned. Facebook Inc is reportedly raising the price of its eagerly awaited initial public offering. The social-media goliath is boosting the expected price range of its offering to $34 to $38 a share, from the previously planned $28 to $35, according to reports on CNBC and the Wall Street Journal. The higher potential price underscores the intense demand among both institutional and individual investors to get a piece of Facebook. The company would raise $14.7bn at the upper end of the range," according to the Los Angeles Times.