Facebook delays IPO until late 2012 - report

Social networking giant, Facebook, is to delay its planned IPO until late next year, according to reports this evening.

FACEBOOK IS TO delay its planned initial public offering (IPO) until late 2012, according to reports this evening.

Citing people familiar with the company, the Financial Times reports that the IPO had been expected in April 2012 but it will now more-than-likely happen towards the end of the year.

It is understood that company owner Mark Zuckerberg has delayed the process to ensure his staff are focused on Facebook’s development rather than a valuable payout.

The IPO is expected to be a blockbuster one, with recent private share sales valuing the company at US$66.5bn.

For more information, see April Dembosky’s report on FT.com>

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