Facebook filed for its highly anticipated initial public offering (IPO) this week, The Wall Street Journal reports. The social network hopes to raise as much as $10 billion (valued between $75 billion and $100 billion) making it one of the largest IPOs of all-time and placing the move as an important footnote in the history of business.

According to TIME Business, Facebook's projected IPO would be the 12th largest in American history, trailing such well-known brands as UPS, Kraft Foods, AT&T and Visa. ABC News reports that it's likely to be the largest internet IPO of all-time, easily surpassing Dutch company World Online's $2.8 billion issue in 2000.

The importance of Facebook's IPO can be seen in the high-profile investment banks that are involved in the move. ABC News notes in a ... (Read More)