Facebook not ready to float

Facebook looks to have delayed its intention to enter the public market until 2012, reports the Independent.

It seems that the website wants to use the extra time to increase revenue and its user base, which hit the 500 million mark recently.

It will also give founder Mark Zuckerberg the chance to develop relationships with the Wall Street investor community.

Most recent estimates put Facebook’s revenue between $700-800m.

This article appears in issue 246 of Media Digest.

Image taken by Flickr user Franco Bouly. Licenced under Creative Commons.

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