In what could eventually create one of the world’s largest Internet companies, social networking leader Facebook filed for a $5 billion initial public offering Wednesday, with Fenwick & West and Simpson Thacher & Bartlett scoring lead legal roles on the proposed listing.
Founded in 2004 by Mark Zuckerberg and several Harvard classmates, Facebook is tentatively scheduled to begin trading its shares publicly in May. The offering marks the latest chapter in the saga of a company that has grown exponentially over the past eight years, with the battles over who deserves credit for its creation spawning both long-running lawsuits and an Oscar-nominated feature film.
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