It's a tumultuous time for Facebook (News - Alert) as its IPO is kicking off in a matter of hours, and an initial price per share is being nailed down. Current reports from anonymous sources close to the matter suggest that the share price is looking to be around $38, a move which would actually help Facebook make history.

Facebook's executive staff as well as a group of investment bankers were in a meeting finalizing the details, which may still change slightly between now and when the IPO actually goes public which is for tomorrow. Facebook reportedly attempted to go higher on the IPO, but the investors balked at the notion, instead settling on the roughly $38 per share price. Facebook is expected to file its final per-share price with the Securities and Exchange Commission after the closing bell today, with the formal results being announced tomorrow.

But even at the lower price than the one Facebook wanted, it would still be a historic launch for Facebook. The $38 per share price would give Facebook a $104 billion total value, representing the highest value for any American company ever at its IPO. Moreover, it would have the second largest IPO ever at $18.4 billion, just behind Visa's 2008 launch, which reportedly raised $19.65 billion.

The thought that investors are experiencing a renewed tech boom is an easy enough thought to have; considering the recent efforts of companies like Groupon, LinkedIn (News - Alert), Zynga, Yelp and others it's not hard to look at the tech field and think that there's certainly a lot of possibility going on in the sector. Given also the recent rise of Apple (News - Alert), as well as the App Store, and the sheer number of people who are discovering value in creating and publishing apps—not to mention the meteoric rise in the e-publishing field (four words: The Mill River Recluse)--and it's not hard to think that this sector is taking on a surprising new life where formerly there was only economic catastrophe. With other tech properties like Twitter (News - Alert) and Dropbox also being considered for future IPO launches, the tech sector does look like a bright spot, especially amid so many reports of job losses, factory closures, and tent cities.

But all is not well in Facebook. While Facebook is currently profitable, there have been several reports of advertisers bailing out, like the most recent with GM. Further, advantages like social gaming may have some problems at Facebook, and there have also been further reports that many of Facebook's insiders are looking to sell stock in rapid fashion. While some have played that up saying there will be more on hand for the regular investor, it's also a bit disturbing that the people closest to the company are those looking to get out. This can have several motives, of course, and only a few of them mean bad things for investors, but it is still a bit of a red flag in its own right.

Still, the IPO is tomorrow, and it will likely be a huge event for Facebook, and for large parts of the Internet hoping to follow suit. Hopefully it will end well for all investors, and only time will tell if this is ultimately the case.