Facebook taps into emerging markets
(CNN) - Facebook, which launched its blockbuster initial public offeringWednesday, is the undisputed social media king of the U.S. and Europe.
But as the West approaches saturation point with the site, Facebook is looking to emerging markets like Brazil and India to fuel its next stage of growth.
The company seeks to raise up to $5 billion, according to documents filed Wednesday. That represents the largest global IPO ever by an Internet-focused company, according to data from Dealogic. Google's $1.9 billion debut is currently the largest U.S. Internet IPO.
Once Facebook starts trading, experts say it could be valued at between $75 billion and $100 billion. The site now has more than 800 million active users, with the bulk of those in the U.S. However, its growth in early adopter countries has stuttered.
Growth is taking off in places like countries India, Brazil, Peru, Mexico and Indonesia. Gregory Lyons, research and insight manager at digital marketing agency iCrossing, calculates Facebook will hit 1 billion active users around August this year, with the majority of those coming from emerging markets.