Facebook is tipped for a spring 2012 IPO and is believed to be hurtling towards a US$100bn valuation by early next year because its profits are growing faster than the company had predicted.
According to reports, Facebook, which employs 200 people in Dublin, is likely to earn more than US$2bn in 2011 for before interest and taxes, and sparking more expectation it will pursue a public listing next year.
The valuation would put Facebook ahead of technology stalwarts like HP, Amazon and Cisco.
According to the report, Facebook’s valuation is now double the US$50bn applied in January when Goldman Sachs and Russian investor DST invested in the company.
Several large banks are understood to be in negotiations with Facebook about supplying a range of investment banking services.