Report: Facebook Delays IPO Until Late 2012
According to a report from The Financial Times, Facebook has elected to delay its initial public offering (a.k.a. "IPO") until late 2012. The IPO, which is expected to be one of the largest in history, was initially expected in April of next year, if not sometime this year.
However, according to the report, Facebook founder and CEO Mark Zuckerberg has elected to delay the IPO so employees can focus on product development rather than financial information. The report specifically mentions that Facebook is not holding out because of poor market conditions, which is what some were expecting to happen.
It was revealed earlier this year that Facebook will be forced to begin reporting its quarterly financial results because of new investors. It is unknown at this time exactly when this will begin happening, however.
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