It’s no secret that Facebook is under a lot of scrutiny.
There are more than 500 million users on the site today - and many of them squawk when there’s even the slightest change. There are a flurry of partners all trying to tap into the social elements within the network, such as gaming. Washington regulators have expressed concerns over consumer privacy on the site. And don’t forget about us bloggers who praise and criticize Facebook with every move it makes.
Does Mark Zuckerberg and team really need Wall Street on its back, too?
A Bloomberg report today quotes unnamed sources as saying that Facebook will likely put off an initial public offering until 2012, giving the company the time it needs to keep growing the number of users and developers on the site. If it doesn’t need the capital - and with a list of noteworthy investors backing it, it appears that it doesn’t - then why rush into an IPO?
The Bloomberg post takes a closer look at Facebook, IPOs and the pressure within Silicon Valley, where a large scale IPO like Facebook’s could encourage other startups to consider getting into the public markets. Still, Zuckerberg has said that Facebook will go public “when it makes sense.”
At 26, Zuckerberg has taken his share of missteps in handling the company, though he’s handled the pressure of criticism - addressing it and adjusting because of it - better than some veterans. And it’s paid off. The popularity and growth of the site is clearly on an upswing.
Giving him more time to focus on the growth of the company, instead of quarterly filings with the Securities and Exchange Commission, is a good idea.
