April 27th, 2012
Is Facebook Ready to Float?
Facebook, the social networking company, was thought to be working towards 17th May 2012 to float on the NASDAQ stock exchange after it lodged its initial public offering (IPO) documents in February of this year. However, with Facebook’s recent spending spree, it is rumoured that this highly anticipated arrival on Wall Street might not take place until June.
It is thought that CEO Mark Zuckerberg, the founder of Facebook, has been focussing much of his time on his recent acquisitions and has left himself unprepared for its initial public offering. Earlier this month, Facebook agreed to buy Instagram, the photo-sharing service, for $1billion and just this week said it would pay $550million for 100’s of patents from Microsoft.
Despite dipping profits (down from $233million a year ago to $205 million), the social network reported increases in daily active and monthly users with monthly active users rising to 901 million worldwide.< Back to Blog