Facebook Won't Be Rushed Into Going Public Like Google
from the well,-it's-financials-are-quite-a-bit-worse... dept
It looks like that won't be happening.
Facebook's lawyers requested and received a special exemption from the SEC, allowing the company to not report its earnings publicly, even if it goes over 500 shareholders (which is likely to happen relatively soon). The exemption will remain in place until the company decides to go public or is acquired. You have to think that some folks at Google are kicking themselves for not trying to do the same thing. Either way, it's pretty clear that Facebook doesn't have the financial numbers that Google had at the time it went public, either -- so forcing Facebook to go public at this time probably would have made a lot less sense than it did for Google, who had fantastic earnings.