Social networking major, Facebook is now planning for its initial public offerings (IPO), which will be the biggest ever for a web company.

The company has to attract investors in the financial markets, proving to the world that it can be a successful name in the stock market. Chief Executive Mark Zuckerberg, who is behind the success of the social network, now has the responsibility to lead the charge into the world of stock market. Chief Operating Officer Sheryl Sandberg will prove to be essential in the initiative.

According to estimates from research firm eMarketer, Facebook's advertising revenue has grown to $3.8 billion in 2011 from $264 million in 2008. The overall advertising revenues are expected to touch $ 6 billion by the end of the year.

Mr Zuckerberg had earlier said that the company can manage to increase its advertising revenues without moving against customer's wishers. He believes that the company's mission to connect people and the company expects to build a really strong business to deliver services.

Facebook has emerged as the biggest social networking platform in the world and has more than three quarters of a billion users. The network will soon touch the one billion users, according to estimates and the company is seen as a small establishment to manage such a large firm.