New York, May 15: What happens when a internet company with 900 million goes to public to raise funds. Laymen’s guess would be overwhelming response and price shooting up!!

Exactly, the world’s largest social networking site and ready to break all earlier initial public offerings (IPO), Facbook Inc has increased the price target range to between $34 and $38 per share from $28 to $35 per share earlier.

With this Facebook would be raising little over $12 billion, at the mid-point of $36 per share, valuing the social network giant at $104 billion, on upper level.  The company plans to sell 337.4 million shares, or 12.3% of the company.

Facebook informed the U.S. Securities and Exchange Commission about the new price band on Tuesday.

In just 6-years of existence, Facebook valuation would rival with tech giants like Amazon.com and definitely exceed that of Hewlett-Packard Co and Dell Inc combined.

Mark Zuckerberg started roadshow last week, which raised tremendous public as well as experts’ response from across the country.  According to media reports,  Facebook plans to close the books on its IPO later on Tuesday, two days ahead of schedule.

Fcaebook is scheduled to price its shares on Thursday and begin trading on Friday.
As compared to Google’s 2004 IPO $2 billion and some latest IPO of Zynga ($1 billion) and Groupon ($700 million),

Facebook is definitely way ahead in that sense. However, one section of analysts is of view that Facebook have to increase its earnings to justify valuation.