Facebook delays flotation until 2012
Facebook has delayed going public until 2012 to allow itself an additional year of growth, according to reports.
It was originally thought the social network, which hit 500m users last week, would float in 2011.
But CEO Mark Zuckerberg now plans to delay its initial public offering to boost users and sales.
Facebook hasn’t confirmed when it will go public but, as Zuckerberg holds board control, the company could float at any time. Reports suggest insiders at the company don’t expect an announcement until 2012.
The company has been criticised for its policies on privacy and user data, and going public would mean releasing quarterly results, which would put its approach to privacy under greater scrutiny.
It’s working hard to change its negative reputation around privacy issues by launching initiatives such an online safety hub, which went live last week (nma.co.uk 27 July 2010).
This story first appeared on newmediaage.co.uk
