Academic

Is Facebook Conditioning the Market for a Possible IPO?

By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring

Facebook is changing its CFO.  Although Mr. Yu "is a well-regarded Silicon Valley veteran with experience at Google, YouTube and Yahoo," the explanation given after his departure is "[Facebook has] hired an executive search firm to find a successor with experience in running a public company."

As you know, Facebook is a private company.  To be come a public company, it would have to have a registered public offering.  Part of the rules governing registered public offerings is that issuers may not try to "condition the market" by mentioning an upcoming IPO in certain ways before a registration statement is filed.  However, a spokesman says that "Facebook had no immediate plans for an initial offering."  Or, at least not in the 30-day safe harbor window.

I guess we will all stay tuned.  In "these tough economic times," a fun technology IPO would bring some cheer, wouldn't it?

Full post as published by Conglomerate on April 01, 2009 (boomark / email).