Facebook Investor Rules Out 2011 IPO

Peter Thiel firm on delay of "at least two years"

Get the WebProNews Newsletter:

[ Business]

Would-be Facebook investors will have to wait a while before the company has a ticker symbol like GOOG, MSFT, and YHOO.  Peter Thiel (re)confirmed this afternoon that Facebook won’t go public until 2012 at the earliest.

Bloomberg reported the same thing in July, meaning this isn’t exactly breaking news, but there is a difference between three anonymous sources and Thiel.  Thiel’s about as close to Facebook as anyone other than Mark Zuckerberg can get.

The evidence: once upon a time, Thiel invested $500,000 in Facebook.  In return, he got 10.2 percent of the company.  Also, Thiel sits on Facebook’s board of directors, meaning he’s aware of the company’s goings-on, and not just sitting back, waiting to profit.

So again, it’s important that Thiel told Fox Business, "[Facebook] will not IPO for awhile.  I think we will follow the example of Google which is you do not go public until very, very late in the process.  This is a by-product of Sarbanes-Oxley.  At least two years.  I think the company is on record saying it will not go public until 2012 at the earliest."

It should be very interesting to see what Facebook’s user count and revenue figures look like at that point in time.

Anyway, a hat tip goes to Roger Nachman.

Facebook Investor Rules Out 2011 IPO
Top Rated White Papers and Resources
  • http://www.TonyasDynamicDesigns.com Tonya–I am a Facebook FAN PAGE Designer & Facebook Marketer


    Facebook is one of the best places for businesses to be on! As a Facebook FAN PAGE Designer and Facebook Marketer for my clients, I know first hand how powerful Facebook is as a Social Media Tool to help one to get more exposure to their business!

    Sincerely yours,

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom