Float values Facebook as high as $96bn

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The Independent Online

Mark Zuckerberg last night set out Facebook's plan for world domination, in a web video to promote the forthcoming share sale that could value the social network at up to $96bn (£60bn).

Facebook set a wide price range of $28 to $35 for its shares, which are expected to debut on the Nasdaq stock exchange in two weeks.

Between now and then, executives are planning to tour the US to meet potential investors, while a glossy corporate video was also released to promote the growth prospects of the company.

Mr Zuckerberg, who founded Facebook in 2004, and his senior lieutenants promised to focus on building the company for the long-term, expanding in countries where it is not yet the dominant social network, winning over advertisers that are currently spending more on traditional media, and integrating Facebook into all kinds of other activities on the web.