Facebook will set its share price range between the high-$20s and mid-$30s when it makes its initial public offering later this month, The Wall Street Journal reported on Thursday. According to the paper’s unnamed sources, the company is seeking a valuation of between $85 billion and $95 billion. Facebook is expected to make its offering on May 18th following a series of meetings with investors, and it could raise as much as $10 billion according to earlier reports. Facebook’s IPO is expected to be the largest such offering in history by an Internet company, besting Google’s $1.9 billion 2004 offering by a wide margin.
UPDATE: Facebook will offer 337.4 million shares priced between $28 and $35 per share, StreetInsider.com reports. According to CNBC, Facebook CEO Mark Zuckerberg will personally sell 30.2 million shares when Facebook makes its public offering, valued at roughly $1 billion.
Following Motorola winning a possible injunction against Apple mobile products in Germany, Apple has told a German court it is set to lose $2.7 billion if it rules in favor of Motorola regarding a patent case related to an “emailing syncing patent”, according to a report from Bloomberg (via BusinessInsider). Apple has reportedly requested the court to demand Motorola provide $2.7 billion in collateral in the event the judge sides with Motorola. Bloomberg reports:
German courts often require the winning side in a case to post collateral if it wants to enforce a ruling while the other side is appealing. The amount reflects the losses the party is facing when forced to comply with the ruling. If it wins the appeals, it can seek damages and can make use of the collateral held for that.
While we have no information about how exactly Apple has come to that figure, the judge hearing the case apparently doesn’t agree with Apple’s valuation:
“I am not yet entirely sure that amount adequately mirrors the commercial value of this dispute … The technology isn’t a standard and there are alternative ways to provide the same services.”
As for the patent at the center of the case, according to FossPatents it was actually originally filed in 1996 to cover a method of synchronizing settings from a pager across multiple devices through a backend server, functionality Motorola claims is similar to features of Apple’s iCloud service. Apple reportedly refused to defend itself against the patent in question as it relates to iCloud, but could be forced to employ an alternative method of synchronization or remove access to iCloud software in Germany if an injunction is ultimately granted. Another hearing is slated for December 2 in Mannheim.
Cross-posted on 9to5Google.com