Facebook's initial public offering may be getting even bigger. Reports circulated Tuesday that the social network is working toincrease the size of its IPO by 85 million shares, according to an MSNBC report and others. Such an increase in the number of shares that will beavailable to potential investors means the company could raise up to $18.5 billion in its initial public offering. This plan for the 25% increase in shares is expected to be filed indocuments with the U.S. Securities and Exchange Commission today.The company now is expected to offer more than 421 million shares. Facebook 's market debut is expected Friday. The news comes on the heels of Facebook's raising the price range of its stock shares Tuesday. The social network filed an amendment to its IPO registration withthe SEC that increased its estimated stock price between $34 and$38 per share. That's up from the original range of $29 to $34 pershare. The new price range could boost Facebook's valuation to more than$100 billion. The company was expected to close the books on its IPO on Tuesdayand then officially set its stock price Thursday. Facebook is pushing forward, increasing its stock price and thenumber of shares that will be available, despite strikes againstits public image in the past week. A survey released Tuesday found that half of Americans think Facebook is a passingfad. Three out of every five Facebook users say they have little orno faith that the social network will keep their personalinformation private, the survey found. In another development Tuesday, General Motors, believed to be thecountry's third-largest advertiser, pulled a $10 million advertising deal from Facebook, concluding that its paid ads on the social networkweren't helping the auto maker sell more products. That's tough timing for Facebook executives, who have been touringthe country in an IPO roadshow pitching the company as a great investment. A major part of itsstrategy has been based on the strength of the company'sadvertising business. Rob Enderle, an analyst with the Enderle Group, said GM's pullout,days before the IPO debut, was a blow to Facebook and could promptserious, old-school investors to rethink whether to buy Facebook'sstock. "The GM thing alone looked like some [Facebook] executive ticked GMoff and they punitively worked to torpedo the IPO," said Enderle."Their announcement basically says Facebook's revenue is based on afalse premise that advertising is actually worth something on theservice." Sharon Gaudin covers the Internet and Web 2.0, emergingtechnologies, and desktop and laptop chips for Computerworld.Follow Sharon on Twitter at @sgaudin or subscribe to Sharon's RSS feed . Her e-mail address is . Read more about web 2.0 and web apps in Computerworld's Web 2.0 and Web Apps Topic Center. The e-commerce company in China offers quality products such as T8 LED Tube Manufacturer , SMD LED Module Manufacturer, and more. For more , please visit LED Panel Light today!
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