What's the Latest Development?

The Wall Street Journal reported on Monday night that Facebook was readying for a possible public stock offering next spring which could raise up to $10b. If it does debut in 2012, Facebook's IPO would dwarf that of any other dotcom waiting to go public. Farmville creator Zynga has filed for an IPO of up to $1bn. LinkedIn and Pandora, which floated this year, are now trading below the levels their stocks reached during their public debuts.

What's the Big Idea?

Among ideas on what Facebook would do with the cash from an IPO, are making more acquisitions and refining or working on new projects, such as a rumoured Facebook phone or a netbook. Having tradeable stock would also allow it to once again easily attract engineering talent.