Facebook Latest to Delay IPO
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Facebook will delay its U.S. initial public offering toward the latter part of 2012 versus the early part, the FT reported Wednesday afternoon.
Facebook CEO Mark Zuckerberg wants to delay an IPO in an effort to keep employees focused on development versus a payout.
The IPO of Facebook has been one of the most highly anticipated deals in years and will certainly be one of the largest with private market stock sales recently valuing the company at $66.5 billion.
If the reports are accurate, Facebook would be just the latest in a slew of social media companies which are holding back on IPOs. Both Groupon and Zynga are also said have delayed their deals.
Facebook investor Peter Theil said it may be desirable to delay the IPO as long as possible, citing Google (Nasdaq: GOOG) - which waited 6 years before going public during which time they dominated the search market.
Link to FT article
Facebook CEO Mark Zuckerberg wants to delay an IPO in an effort to keep employees focused on development versus a payout.
The IPO of Facebook has been one of the most highly anticipated deals in years and will certainly be one of the largest with private market stock sales recently valuing the company at $66.5 billion.
If the reports are accurate, Facebook would be just the latest in a slew of social media companies which are holding back on IPOs. Both Groupon and Zynga are also said have delayed their deals.
Facebook investor Peter Theil said it may be desirable to delay the IPO as long as possible, citing Google (Nasdaq: GOOG) - which waited 6 years before going public during which time they dominated the search market.
Link to FT article
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