New York, NY, United States (AHN) – Hopes of an initial public offering from Facebook in 2011 have been shelved according to reports from the Financial Times. The social networking giant now plans its IPO for sometime in late 2012.
Facebook, valued anywhere between $50 to $100 billion, more than Google, is expected to be one of the world’s largest IPOs. Private shares have been valued at $66.5 billion.
The reason for the delay is that founder Mark Zuckerberg wants to postpone the IPO until September 2012 or beyond “in order to keep employees focused on product developments rather than a pay-out.”
Meanwhile, Groupon’s IPO is back on. The New York Times reports that the online coupon giant is expected to go public sometime in October or November of this year. The IPO had been delayed as the company waited to ride out shaky markets worldwide.
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