Facebook: No IPO Until 2012

According to a source with BusinessWeek, Facebook is not planning to have an IPO until 2012. This gives CEO Mark Zuckerberg the flexibility to focus on gaining additional users and boost additional revenues. Previously investors were speculating that Facebook would have an IPO in 2011.

Facebook currently has a valuation of $24.9 billion. Revenues for 2010 at Facebook is expected to hit at least $1.4 billion. Investors and employees have been utilizing third party companies to buy and sell stock in Facebook such as SecondMarket Inc. and SharesPost Inc.

[BusinessWeek]

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