(FILES) The logo of social networking website ‘Facebook’ is displayed on a computer screen in London, on December 2007, 2012. Eight years after its launch, social networking giant Facebook is poised to file papers for an initial public offering seeking to raise at least $5 billion according to US media reports on January 31, 2012. The Wall Street Journal reported this on January 27, 2012. The newspaper, citing people familiar with the matter, said Facebook could file IPO papers with the US Securities and Exchange Commission (SEC) as early as Wednesday but the “timing is still being discussed.” It said the Menlo Park, California-based social networking giant is looking at a valuation of $75 billion to $100 billion and is close to picking Morgan Stanley as the lead underwriter for the stock offering. AFP PHOTO/LEON NEAL (Photo credit should read LEON NEAL/AFP/Getty Images)