Mark Zuckerberg, the computer whiz who created the world's largest social network from his Harvard dorm room in 2004, is pushing Facebook to new levels eight years later as the company is expected to file for a $5 billion initial public offering (IPO) Wednesday.

Zuckerberg hand-picked Morgan Stanley to take the "lead left" role, giving it the coveted top spot on the IPO prospectus, according to Reuters.   Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan were selected as the other four bookrunners.

The deal has some investors wondering if Facebook will offer a provision for current Facebook users to get in on the deal when it hits the open market.  Normally investors don't have the chance to access any buzz worthy IPOs.  Wall Street brokerage firms typically give shares to hedge funds, mutual funds, and some of the highest earning individuals, according to the LA Times.

"Pandemonium is what I expect in terms of demand for this stock," said Scott Sweet, senior managing partner at IPO Boutique.  "I don't think Wall Street would want to anger Facebook users."

Facebook's value is expected to hit around the $75 billion to $100 billion mark, according to Forbes. 

The company's IPO filing has the potential to spark the Silicon Valley economy by providing a real estate boom.  Wall Street wealth management firms are expanding in the Bay Area to lure in startups who have gone public, said the San Jose Mercury News. 

Facebook could face some serious implications when the company goes public, including an increase in lawsuits.  In the past year alone, Facebook faced 22 patent lawsuits, double the amount from 2010, said Reuters.

Reuters cited a sharp increase in lawsuits for Zynga, Groupon and LinkedIn since going public last year.  Prior to IPO filing, none faced a single patent lawsuit.  Facebook can expect to face more patent lawsuits than ever post-filing, according to Reuters.

When the social network site hits the open market the filing will show how much money it expects to raise from the stock market, said the SF Gate.  It will also reveal what the company's intentions are for the money and potential growth prospects.

Facebook representatives have declined to comment on the impending IPO filing, the largest ever for an Internet company.

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