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Facebook CEO in no rush for IPO

Mark Zuckerberg, Facebook CEO and founder laughs outside the Sun Valley Inn in Sun Valley, Idaho July 9, 2009. REUTERS/Rick Wilking

Mark Zuckerberg, Facebook CEO and founder laughs outside the Sun Valley Inn in Sun Valley, Idaho July 9, 2009.

Credit: Reuters/Rick Wilking

NEW YORK | Thu Mar 4, 2010 9:01am EST

NEW YORK (Reuters) - Facebook Chief Executive Mark Zuckerberg is in no rush to take the popular social-networking site public, the Wall Street Journal reported on Wednesday.

The 25-year-old CEO told the Journal in an interview that the company would eventually launch an initial public offering (IPO), but added "we are definitely in no rush."

"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," Zuckerberg was quoted as saying.

Zuckerberg told Reuters in May last year that an IPO was a few years out. In November, Facebook announced a dual-class stock structure to ensure voting control by existing owners, but reiterated it had no plans yet to go public.

Facebook, which lets users connect and share information with friends online, has emerged as one of the Internet's most popular destinations, challenging established powerhouses like Yahoo Inc and Google Inc.

Facebook counts around 400 million users and has had large investments from the Microsoft Corp and from Russian investment company Digital Sky Technologies.

(Reporting by Ritsuko Ando; Editing by Lincoln Feast)

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Comments (2)
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Mar 04, 2010 10:19pm EST  --  Report as abuse
jackiecox wrote:
go public and you will have a real problem with your blacklisting and interfering with the data appearing in face book, yer a short term fad that in time will fail, once people figure out what yer really up to. stupid enough to think you can control the internet. all the cash from china won’t save you peoples from yer vistims

Mar 05, 2010 2:20am EST  --  Report as abuse
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