According to the Wall Street Journal, Facebook Inc. could file papers for an initial public offering as early as next week and is currently looking at a deal that would value the social network between $75 billion to $100 billion, said people familiar with the matter.

Facebook could file IPO paperwork as early as Wednesday of next week, and Morgan Stanley is close to winning the "lead left" position in the IPO. Facebook has been valued between $75 and $100 Billion dollars.

The Internet giant is close to picking Morgan Stanley as the lead underwriter for its IPO, these people said, giving the investment bank one of Wall Street's most coveted assignments. It would mark a setback for rival Goldman Sachs Group Inc.

Facebook could file documents with the Securities and Exchange Commission as early as this coming Wednesday, said one person familiar with the matter. But that is just one scenario Facebook executives are considering, the person said. Executives are also considering filing a few weeks later, the person said.
Journal Community

At a valuation between $75 billion and $100 billion, Facebook is looking to raise as much as $10 billion, said people familiar with the matter. The final valuation will be determined by a variety of factors, people familiar with the matter cautioned, such as investor demand for social media, the IPO market and the health of the European economy.

A $10 billion Facebook offering would rank fourth among U.S. companies, behind Visa Inc., General Motors Co. and AT&T Wireless. At a $100 billion valuation, Facebook would be worth about the same as McDonald's Corp. and nearly half of Google Inc.

Read more at the Wall Street Journal.