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Facebook to delay IPO until late 2012
Social networking website Facebook will delay its initial public offering (IPO) until the end of 2012 in order to focus on developing products. Facebook, which is expected to have one of the biggest IPOs in history, plans to go public at the end of 2012, a later public debut than it originally planned. This follows reports that Chief Executive Mark Zuckerberg wants to delay an IPO so employees can stay "focused on product developments rather than a pay-out."
The company has confirmed that the decision is not related to market conditions. Sources earlier this month said 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.
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