Facebook has decided to delay its initial public offering (IPO) until late 2012 so that employees can focus solely on product development and innovations, according to the Financial Times.
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| Mark Zuckerberg |
The decision to “focus on product developments rather than a pay-out” wasn’t motivated by market conditions the paper said.
Earlier this month Facebook’s revenue doubled to $1.6 billion in half 1 of 2012, with its valuation in private markets accounting to roughly $80 billion.
