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Published February 01, 2012, 06:47 PM

Facebook files paperwork to take company public

Fargo, ND (WDAY TV) - Facebook is finally going public. The multi-billion dollar company filed paperwork to get the process started. It hopes to raise five billion dollars, but it will be awhile before you can snag stock of your own.

Facebook is finally going public. The multi-billion dollar company filed paperwork to get the process started. It hopes to raise five billion dollars, but it will be awhile before you can snag stock of your own.

Facebook's public IPO filing is turning the finance and investment industry upside down.

Dr. Olgun Sahin – MSUM School of Business Co-Chair: "We didn't have a lot of those high-profile IPOs in recent past there are periods in which IPOs are really hot."

This incredibly private company will have to start sharing information.

Paul Meyers – Legacy Wealth Management: "We for the first time get a really inside glimpse at what their revenues are every year, what their earnings are."

Some say it could cause changes:

Dr. Olgun Sahin: "They are going to have to find more income streams. Does that change what type of Facebook page you will see? I would think that would have to be."

For example, changes in the format, or layout, or amount of advertisements - an idea that doesn't make avid Facebook users like Dejlana Hodzic happy.

Dejlana Hodzic – Facebook User: “If it got to a point where there was so much extra stuff in there I don't need and you can't get rid of it because Facebook ads are just there, you can't get rid of them. I would definitely cut out my Facebook for that. There would be no second guess."

Any changes would likely a long way off. Adviser's say it'll be up to three months until you can get your piece of the Facebook pie. There is no word yet on how much a share would cost.

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