Facebook is planning to drop its long-awaited IPO filing on Wednesday, the WSJ reports.

Morgan Stanley is "close" to becoming the underwriter. Goldman Sach will also play a "major role."

The filing will disclose lots of long held secrets about Facebook's financials.

After the filing drops, there will be months of waiting until Facebook actually goes public sometime in the spring.

Facebook's IPO valuation is expected to be somewhere between $75 billion and $100 billion.

Facebook's 2011 revenues – ads, mostly – came in around $4 billion, according to reports.

When the springtime IPO happens, Facebook COO Sheryl Sandberg will become one of the world's wealthiest self-made women. The company will also create 1,000+ millionaires. 

Click here to see how Facebook's millionaires plan to spend their money >>

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