Social networking company Facebook has set aside the third week of May for its initial public offering (IPO), according to news provider All Things Digital.

The expectation would therefore be for Facebook to file with the Securities & Exchanges Commission within the next month, given the usual time period given over for IPO reviews by the commission.

Facebook has now grown to the point where it can count 800 million active users, with 50% logging on at least once every…

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