Facebook seeks a $104 billion Valuation for IPO

Facebook on Tuesday raised its IPO (Initial Public Offering) price target range to between ($34 to $38) per share from the previous prices ($28 to $35) as a result of strong demands, according to a new filing with the United States Securities and Exchange Commission.

The new price range pushes the social networking company's valuation to between $93 billion and $104 billion. Facebook will offer a total of 388 million shares. Facebook IPO will start on May,18th and its shares will be listed on the NASDAQ exchange under the "FB" ticker symbol.