Facebook: IPO Still Years Away

May 26, 2009
FoxxyBB

Attention all LUX Facebook fans! It seems that the company will not be going public anytime soon. So for now, we can assume business as usual despite the rumors of offers being thrown their way.

Mark Zuckerberg, CEO of Facebook, has confirmed that they are open to partnerships in the near future, but are not looking to go public for funds. The financial health of Facebook is ‘stable’ says Zuckerberg, and the business goals are achievable with the current budget.

If there’s an investment to be done on very good terms, we will consider it for no other reason then to have more buffer if we want to do something in the future. –Zuckerberg, Reuters Global Technology Summit

Facebook is estimated to be worth 8-10 billion. With over 200 million active users, which is almost double then the number last year, it makes for the perfect setting for advertisers and marketers to access their target market. Their revenue model is currently dependent on this advertising model, although future plans look to expand the capability to help more people ‘monetize their own site.’

“I know for a lot of companies the IPO is the endpoint or the goal,” Zuckerberg said. “For us it will be an event on the path to where we want to get eventually.”

We here at LadyLUX look forward to seeing what the future of Facebook brings—and until then, keep Facebooking LUX nation.

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