Facebook Postpones IPO until late 2012

The most recent reports suggest that Facebook has delayed the first public offering until next year. Facebook states that the decision is taken so that the employees continue to concentrate on developing products for the world’s best social networking website, reported the Financial Times.

Quoting the people related to the company, the newspaper described that the Facebook is going to have one of the largest ‘Initial Public Offerings in records. But now the company has deferred the plans to go public until late 2012.

According to paper, the decision taken by the Facebook’s chief executive Mark Zuckerberg is not based on market conditions rather he took this decision of postponing an IPO to next year to keep his employees “focused on product developments rather than a pay-out.”

However, media is failed to have some words on this postponement of IPO from any of Facebook representative.

Reuters published a report in start of this month according to which within first six months of 2011 the revenue of Facebook doubled to stand at $1.6 billion, while in the private market the investors estimated its total value to $80 billion.


Enjoyed this article? Submit your email to receive daily news and updates.

***You must click confirmation link sent in email. If you don't see the email, check spam folder.

Filed in: Facebook, News, Social Media Tags: , ,

Leave a Reply

Submit Comment

© 2022 Tech Readers. Reproduction without explicit permission is prohibited. All Rights Reserved. XHTML / CSS Valid.