In what may be a record breaking IPO the tech company is looking to raise about five billion dollars to fund the future of the social media giant.
Many Facebook lovers are concerned that this IPO will mean the end of the innovation in social media that facebook has been so well known for.
There has not been a date set yet for when the Facebook shares will go on sale but it is being eagerly anticipated by investors and Facebook lovers alike.
American Airlines cutting 13,000 jobs
In other business news, American Airlines announced that it will cut up to 13,000 jobs over the next year in attempt to save about two billion dollars as it comes out of bankruptcy.
In addition to the job cuts they will be cutting costs by grounding less profitable and older planes, eliminating some flight routes and cutting expenses in other areas as well.
For a more detailed list of where American Airlines intends to cut, and what prompted the cuts, click here.
In Memory of Don Cornelius
Finally in some somber news, the pope of soul, Don Cornelius, died today of a self inflicted gunshot wound.
Don is most famous for starting the television show “The Soul Train.”
This show innovated television by dedicating the entire show to music and dancing, decades before MTV or VH1.
Many people credit “The Soul Train” for helping bring what was traditionally black music and dancing to white communities and bringing them together in a way which never happened before.