09/29/2010 // US // TiffNews10 // News Desk
San Francisco – An IPO may soon be in the works for Facebook. As reported by Reuters, a board member recently stated that the privately held company may go public after 2012. Investors have long awaited the opportunity to purchase public shares in the company, which has grown steadily since its debut. Founder Mark Zuckerberg and friends reportedly developed the idea for the company in 2004 while students at Harvard.
Peter Thiel, board member and founder of PayPal, is quoted in the report as stating to Reuters of the possible transition, “It probably will IPO at some point. The lesson from Google seems to be that you don’t go public until very late.”
Facebook, which is based in Palo Alto, California, has over a reported 500 billion users worldwide.
The latest in Social Media News