Facebook Files for $5 Billion IPO

by Christina Warren via Mashable.com

Facebook just filed the preliminary prospectus for its long-awaited initial public offering (IPO).

As rumored, the company is seeking to raise $5 billion. If Facebook manages to raise this capital, it will be on a shortlist of biggest tech IPOs of all time.

Investment bank Morgan Stanley will act as lead underwriter, with Goldman Sachs and J.P. Morgan and others to take secondary positions. Shares are expected to hit the market in May.

SEE ALSO: Everything You Need to Know About Facebook’s $100 Billion IPO

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The Site UnScene announces the opening itʼs downtown Los Angeles art ʻHeadquartersʼ and ʻArtistʼs Gym.ʼ

Los Angeles, CA, Jan. 17th, 2012: The Site UnScene (TSUS*) is proud to announce the opening of itʼs art Headquarters in Downtown Los Angeles. TSUS* started with the goal of encouraging artistic innovation and providing a platform for a curated few of Los Angeles street artists.

As of January 1st, 2012, TSUS* has taken the next step in ʻhelping make art happenʼ by opening theirHeadquarters. Located in the heart of downtown Los Angeles, this warehouse style gallery is designed for private art viewings and invite-only art, film, and music events. The space also houses the unique concept of an Artistʼs Gym, where artists are invited to come work-out their artistic concepts and ideas.

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42-Inch Touchscreen DJ System

by Michael Calore via Wired

SmithsonMartin Emulator DVS DJ System

Looking like something lifted from the nightclub in Tron: Legacy, it’s a giant dashboard for selecting and mixing tracks. Position the included 2,300-lumen projector on the shelf beneath the 42-inch infrared touchscreen and hook up a laptop: The glass bursts to life with throbbing neon buttons, sliders, and knobs. And because the screen is transparent, the audience can watch as you swipe, twist, and tap to keep the beats bumping.

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Three reasons Facebook has to go public

by Paul Sloan via cnet

Make no mistake: Mark Zuckerberg doesn't want to go public.

It's no secret that Zuckerberg has tried to keep Facebook private as long as possible, believing--rightly or wrongly--that that's the best way to stay nimble and build the business. But at this point, Zuck's got little choice. Facebook has become too big, it has too many shareholders, and so it's on track to go public this spring, eight years after Zuckerberg started Facebook in his Harvard dorm room.

A couple of months ago, the 27-year-old Zuckerberg assembled his top management team to talk about the IPO game plan, according to a person familiar with the situation. And now there's reportedly a heated competition on Wall Street between banks eager to take the lead role arranging the sale of what will likely be the biggest tech IPO in history. The company could file its S-1 this week.

So why now?

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