Mark Zuckerberg and IPO

Facebook 'in no rush to go public' | News.com.au

FACEBOOK chief executive and co-founder Mark Zuckerberg says he is in no hurry to launch an initial public offering for the wildly popular social networking site.

"We're going to go public eventually, because that's the contract that we have with our investors and our employees," Mr Zuckerberg told The Wall Street Journal. "We are definitely in no rush."

The Journal, citing "people familiar with the matter", also said today Facebook, which turned cash flow positive last year, could see revenue of between $US1.2 billion ($1.33 billion) and $US2 billion ($2.21 billion) this year.

Inside Facebook, a blog which is generally well-informed about the social network, also reported earlier this week that revenue, mainly from advertising, could top $US1 billion ($1.1 billion) in 2010.

Inside Facebook, citing unidentified industry sources, estimated Facebook's 2009 revenue at between $US600 million and $US700 million.

Facebook was founded by Mr Zuckerberg, now 25, in his Harvard University dorm room in 2004. The California-based company employs 1200 people and has more than 400 million users.

Mr Zuckerberg said that Facebook does not face the same pressures as traditional companies to carry out an IPO.

"If you don't need that capital, then all the pressures are different, and the motivations (to go public) are not there in the same way," he said.