Facebook Inc. plans to make an initial public offering by June with hopes of valuing the company at more than $100 billion.

The social media firm aims to raise a whopping $10 billion in its IPO, marking one of the largest offers ever, which can potentially value the company at $100 billion. Facebook would become one of the top 20 stocks by market capitalization in the nation.

As reported in the Wall Street Journal, a valuation of $100 billion is a number greater than twice that of firm firms such as Hewlett-Packard Co. and 3M Co.

Facebook has become an icon in the world of social media with over 100 million users around the globe.

Facebook Chief Executive Mark Zuckerberg chose to keep Facebook private in the past, which raises many questions as to why he chose to go public now especially during such a downfall in economy.

Facebook spokesman Larry Yu told Medical Daily that the company is “not going to participate in speculation about an IPO.”

WSJ Corporate Deputy Chief Spencer Ante told the Wall Street Journal that last year Facebook was valued at 50 billion dollars and says that they would not go public just yet because of the macroeconomic volatility in Europe, but he also said that there are some signs of stabilization.

Facebook plans to go public around April to June of 2012, but hasn’t hired any investment bankers yet. According to the WSJ, the iconic social networking firm feels they have plenty of investor interest.