_May 18, 2012_
Facebook Inc. wrapped up its initial public offering road show in Silicon Valley on Wednesday, meeting with investors in its final stop before the social networking giant begins trading on the Nasdaq stock market on Friday.
The company, based in Menlo Park, California, is expected to raise $16 billion in its IPO, the biggest tech offering since Google Inc. went public in 2004.
Facebook executives, including CEO Mark Zuckerberg, Chief Financial Officer David Ebersman and Chief Operating Officer Sheryl Sandberg, met with investors from institutional funds and wealthy individuals at the Rosewood Sand Hill hotel in Menlo Park.
The road show, which began in New York last week, was designed to generate interest in the company's stock among potential investors.
Facebook has been on a rapid growth trajectory in recent years. The company had 901 million monthly active users as of March 31, up 29% from a year earlier. Revenue in the first quarter of 2012 was $1.06 billion, up 45% from the same period in 2011.
Facebook is expected to use the proceeds from the IPO to fund its ongoing expansion, including the development of new products and services and the acquisition of other companies.
The company's stock is expected to begin trading on the Nasdaq stock market on Friday under the ticker symbol "FB."