IPO

Warren Buffet, a 80-years old American billionaire, warned investors against sinking their money into replete social networking companies. Chairman and CEO of Berkshire Hathaway Inc, Buffett advised investors to be wary of social media valuations, according to a report from the Bloomberg news service.

"Most of them will be overpriced," Buffet reportedly said, though he didn't specify which companies he was referring to. "It's extremely difficult to value social-networking-site companies. Some will be huge winners, which will make up for the rest."

A popular video streaming website Hulu is planning an initial public offering which could value at more than $2 billion.

Hulu streams popular shows like "Glee" and "Modern Family," and now it is holding negotiations with investment banks to go public as soon as this fall, people briefed on the matter told the New York Times.

General Electric Co affiliate NBC Universal owns a third of Hulu.com, the most popular U.S. website for viewing television shows. Hulu also is owned by News Corp and Walt Disney Co.

As it became known, Facebook has purchased all of Friendster's social networking patents and patent applications for $40 million.

Such an acquisition might protect social networking giant from lawsuits or prepare it for an IPO.

A lender to wealthy customers First Republic plans its split-off from Bank of America. The bank reported it is going to make some acquisitions, expand its branch network and recruit bankers and money managers. While it already went public in 1986 it will again pursue an initial public offering to fuel its growth, First Republic co-founder and Chief Executive Jim Herbert told.

 Citigroup Inc. filed plans for an initial public offering of its Primerica Inc. life insurance unit late Thursday, and said it will sell the rest of the unit after it goes public.

Divesting Primerica is part of Citi's effort to simplify its operations and raise cash. The bank, one of the hardest hit during the credit crisis and recession, has reported huge losses in the past two years as its investments and consumer loans and credit cards soured.

 Internet retailer Newegg Inc. plans an initial public offering of stock worth up to $175 million, according to a filing with the Securities & Exchange Commission on Monday. 

City of Industry, Calif.-based Newegg focuses on sales of electronics, hardware and software to consumers and small businesses. The company did not specify the timing of its IPO, on which market it intends to float its shares or its intended ticker symbol. 

Visa Inc.’s Brazilian affiliate plans to sell stock in the world’s biggest initial share sale in a year, seeking to tap investor demand in a nation where credit card use is growing more than 20 % annually. Shareholders of Cia. Brasileira de Meios de Pagamentos, the Sao Paulo-based processor of payments for the largest credit card network, aim to raise 5.7 billion reais to 7.2 billion reais ($2.9 billion to $3.6 billion) in the June 25 sale.