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Facebook IPO May Be Set For May 17


Various sources are now reporting that Facebook's initial public offering is set for May 17. The word comes from a Wednesday report on techcrunch.com and follows much speculation about the social networking giant's IPO date.

Mark Zuckerberg and company have also made headlines this week with news that the 27-year-old tycoon may have cut Facebook's governing board out of the negotiations to buy Instagram. The $1 billion deal was closed earlier this month, but the rumor has raised some speculation of Zuckerberg's readiness to share responsibility with a board of directors once Facebook goes public.

Thus far there has been no official word about the rumor, which spread after a source close to the deal spoke with the Wall Street Journal.

"At Facebook, we build tools to help people connect with the people they want and share what they want, and by doing this we are extending people's capacity to build and maintain relationships," Zuckerberg writes in a letter to potential investors that was included in the IPO filing with the SEC.

by RTTNews Staff Writer

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