That Facebook IPO may be even further off than previously thought … A report by Bloomberg cites insiders who say that the company may wait until 2012 for an IPO. The previous expected date was 2011, because two top investors had said in January that the IPO wouldn’t be happening this year.
The stated excuse, according to Bloomberg, is that “Facebook would benefit from another year of growth absent the added scrutiny that comes with a public listing” and that the delay will give it “more time to gain users and boost sales.” Perhaps. But how much bigger, and will investors be that much more impressed two years from now?
Facebook already has huge usage and sales figures. The company said last week that it now has 500 million users, while the most recent estimates put its revenue in 2009 at between $700 and $800 million.