Facebook plans May 18 IPO

Facebook Inc. is planning to set the price range for its impending initial public offering in the high-$20s to mid-$30s a share, valuing itself at roughly $85 billion to $95 billion, said people familiar with the matter.

The pricing puts the social network on track to become the most valuable U.S. Web company at the time of an IPO, exceeding Google Inc.'s GOOG +0.45% $23 billion valuation in 2004. It would also put Facebook just behind the market capitalization of Amazon.com Inc. AMZN -0.75% and ahead of other technology giants like Hewlett-Packard Co. 

Read more: Wall Street Journal