According to The Wall Street Journal, Facebook will file its S-1 with the Securities & Exchange Commission next week, perhaps on Wednesday. It looks like Morgan Stanley (NYSE:MS) will be the lead banker. In terms of Net deals, Morgan has been the go-to player. Some of its other transactions include Groupon (NASDAQ:GRPN), Zynga (NASDAQ:ZNGA) and LinkedIn (NYSE:LNKD).
Goldman Sachs (NYSE:GS) is supposed to have a key role in the deal. But losing the lead to Morgan must be a huge disappointment for Goldman. Consider that it led the $1.5 billion private financing round for Facebook about a year ago.
The social network’s valuation is expected to range from $75 billion to $100 billion. Interestingly enough, this is down from the $100 billion+ that has been widely rumored. Perhaps Facebook’s financials aren’t as standout? Maybe Google’s (NASDAQ:GOOG) social network is becoming a problem? Read