When it rains, it pours.
With Groupon and Zynga delaying their IPOs, Facebook has joined the mix, according to a Financial Times report. Citing people familiar with the company, a “late 2012” IPO seems likely now, with something sooner appearing implausible.
While Groupon and Zynga’s delays seem to be related to the continued market volatility (and possibly Groupon’s constant bad media coverage of late), Facebook’s looks to be about employees: the company wants staff to focus on building great products and not cashing in shares, the report suggests. Market chaos is probably a factor nonetheless.
Facebook is seeking a valuation upward of $100 billion, a number deemed grossly high by most critics and mathmeticians.