Tech and Media Blogs Breathlessly Await the Facebook IPO

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The Facebook IPO is coming sometime today and some bloggers just can't wait. Or, they can wait, since that's exactly what they are doing, counting down the seconds to that magic moment when Facebook files papers for a stock that won't exist for months.  

By now we pretty much know all the important details in Facebook's highly-anticipated S1 -- a Morgan Stanley-led $5 billion dollar IPO, valuing the company at somewhere between $75 and $100 million -- the actual announcement will generate a torrent of blog posts about what it all means. Until then, all we can do is wait and some sites are counting down to the release.

That's a literal countdown, in the case of Business Insider, which has a Facebook IPO countdown clock on the right rail of the tech section of its site. We're not sure how accurate BI's data is, as the time of the filing has oscillated between "sometime today,"  to "later today," to "tomorrow at the latest." 

In the absence of any news, some sites are resorting to what can charitably be described as filler. An anxious Kara swisher over at AllThingsD liveblogged her very early morning of waiting. 

I am now so comatose waiting for the show to begin that I briefly began a liveblog of my activities this morning.
It went like this:

4:45 am PT: Done with AOL Q4 earnings, which were meh, but better meh than expected. AOL, if you recall, used to be Facebook and now is, um, not.

Note to Zuckerberg: Be nice to people on your way up, since you’ll meet them again on the way down.

4:46 am PT: I check the SEC site and get zip. Click, click, clickety-click over to find out the latest on Demi Moore and her fake pot debacle.

That goes on until 4:48, when Swisher gives up for the a Kardashian marathon. Since then, upon realizing the IPO won't come until later this afternoon, or maybe tomorrow, Swisher reports "my day is shot" and suggests others "Go the F**k Back to Sleep," as we assume she will. 

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Whenever the filing does happen, most likely this afternoon after markets close, it won't mean much for you or your wallet. Nobody will have access to the shares of Facebook for months and even when they do get listed the average Joe won't have an in. But, maybe it will do something for the general economy, or the tech bubble since things like that can have far-reaching repercussions. Whatever happens, expect breathless nanosecond-by-nanosecond coverage.

This article is from the archive of our partner The Wire.