Facebook to delay IPO until late 2012: Report

 

Redirects employee focus.

Facebook will delay its initial public offering until the end of next year so employees can focus on developing products for the social networking website, the Financial Times reported.

Facebook, which is expected to have one of the biggest IPOs in history, plans to go public at the end of 2012.

It was a later public debut than it originally planned, the newspaper said, citing people familiar with the company.

Chief executive Mark Zuckerberg particularly wanted to delay an IPO until September or later in 2012 so employees can stay "focused on product developments rather than a pay-out". The decision was not related to market conditions, the paper said.

Facebook could not be reached for comment.

Sources told Reuters earlier this month that Facebook's revenue doubled to $1.6 billion in the first half of 2011. Investors have pushed its valuation to roughly $80 billion in the private markets.

(Reporting by Liana B. Baker; Editing by Gary Hill)


Facebook to delay IPO until late 2012: Report
 
 
 
Top Stories
Meet FABACUS, Westpac's first computer
GE225 operators celebrate gold anniversary.
 
NSW Govt gets ready to throw out the floppy disks
[Opinion] Dominic Perrottet says its time for government to catch up.
 
iiNet facing new copyright battle with Hollywood
Fighting to protect customer details.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
In which area is your IT shop hiring the most staff?




   |   View results
IT security and risk
  26%
 
Sourcing and strategy
  12%
 
IT infrastructure (servers, storage, networking)
  21%
 
End user computing (desktops, mobiles, apps)
  15%
 
Software development
  26%
TOTAL VOTES: 339

Vote
Would your InfoSec team be prepared to share threat data with the Australian Government?

   |   View results
Yes
  58%
 
No
  42%
TOTAL VOTES: 143

Vote