Social networking giant Facebook has reportedly delayed its IPO until September 2012 after originally planning to go public in April, according to a new report.
The delay comes after Groupon has reportedly delayed its own IPO due to market volatility, while reports earlier this year also suggests social gaming group Zynga would delay its listing as well.
According to the Financial Times, Facebook will list towards the end of next year. The order apparently comes from chief executive Mark Zuckerberg who wants employees to focus on products rather than how much money they will receive in a pay-out.
Pressure has been building on Facebook to go public ever since it accrued hundreds of investors earlier this year through Goldman Sachs. Regulations dictate that when a company reaches over 500 investors, it must disclose financial results.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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