Facebook shares to go public, seeking to raise $5 billion in its initial stock offering

Girls show their Facebook "wall" on their mobile devices in Jakarta on February 2, 2012. After a deep slump that soured many investors on tech stocks last year, Facebook is launching its IPO into a market that looks ready to greet the social networking giant with open arms. Facebook, founded in 2004 by Mark Zuckerberg, then a 19 year old Harvard student, filed documents with the Security and Exchange Commission to go public, seeking to raise $5 billion in its initial stock offering.