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Facebook's reach is wide but not deep. Few users surveyed in an Associated Press-CNBC poll say they click on the site's ads or buy the virtual goods that make money for it.

Facebook took another step toward its goal of being a platform for developers Wednesday, by announcing that it will launch its own App Center, a single location for the platform’s many applications. The company also announced that it will begin supporting paid apps, a program that it is offering to developers in a beta test. (Right now, developers can have in-app payments on the network, but all applications have been free to access.)

Facebook has raked in billions and will make a splash when its stock hits the open market next week. So, what are folks on Wall Street concerned about? Mark Zuckerberg's hoodie, apparently.

Facebook Inc's initial public offering pitch played to some bad reviews in New York, so for its Boston audience on Tuesday, the 30-minute video was scrapped and the company took more questions from analysts and potential investors.

How to put all this into a Facebook valuation? To justify the big numbers being tossed around – $100bn and up – several things must happen in the next five to seven years. The business needs to become much less capital intensive (inclusive of acquisitions) over time, as Google and Microsoft have done. That is the easy part. But margins must also stay near today’s level of about 50 per cent – which would be uncharted territory. And sales would have to grow at least sixfold in this period.

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

Facebook will go public on May 18, a published report says, in one of the most highly anticipated tech initial public offerings since Google went public in August 2004.

Despite rumors of delays, Facebook could begin its roadshow as soon as early next week, according to two people briefed on the company's plans.

The creation of the guidelines reflects concerns about the misuse of sites like Facebook and Twitter and follows accusations of misconduct by teachers with students.

Yahoo returned legal fire against Facebook in the companies' ongoing patent dispute, calling Facebook's recent countersuit slapdash and asserting two new patents against its younger peer.