Fenwick and Simpson Thacher Leading Facebook IPO Charge
Posted Feb 2, 2012 8:37 AM CST
By Molly McDonough
With Facebook's IPO filing Wednesday came news of the law firms behind what could be the creation of the world's largest Internet company.
The Law Blog describes the firms' selection as "a triumph not only because of the high profile nature of the assignment, but the potential for big fees."
Facebook wants to raise as much as $10 billion when it goes public in the spring, the Law Blog notes.
The Am Law Daily adds that Mountain View, Calif.-based Fenwick is a longtime legal adviser to tech startups and other emerging companies. The Facebook deal is just more good news for Fenwick, which Am Law Daily reports saw gross revenue increases of 11 percent and profits per partner and profits per lawyer increases of 6.5 percent and 8.2 percent last year.
Simpson Thacher's role will be in advising underwriters on the Facebook IPO.
The Recorder (2008): "Facebook 'Friends' New Law Firms: Following beauty contest, social networking site switches outside corporate counsel"
Reuters: "Analysis: Patent plaintiffs target Facebook as IPO approaches"
Wall Street Journal: "Facebook IPO Filing"