Facebook is revising the price range for its initial public offering to $34-$38, according to people familiar with matter – a significant increase versus the prior range of $28-$35. The social networking giant is expected to disclose the new range in an updated IPO filing with the Securities and Exchange Commission that could come as early as Tuesday morning, according to one of these people. At $38, the company would…

When a hugely successful company such as Facebook makes an initial public offering (IPO) of their stock, fortunes are made, and not only by the company owners. Facebook co-founder, Mark Zuckerberg, for example, will make an estimated $14 billion when his company goes public this spring. Many employees of Facebook will probably also reap millions if they own company stock. The big money of a successful IPO most often goes…