Report says social networking giant wants to grow user base and clarify privacy issues before flotation
Bloomberg reports that Facebook's predicted 2011 initial public offering (IPO) has been put back by a year.
The report cites sources familiar to the matter, who indicated that Facebook would use the extra time to grow its user base past the 500 million mark it hit this month and hone its much-debated privacy policies.
Facebook, which is controlled by founder and CEO Mark Zuckerberg, has been valued by analysts at $24.9 billion.
Earlier this month the company said it was looking at building out its own mobile platform.
Bloomberg's sources said Facebook's revenue hit $700-800 million in 2009 and could double to $1.4 billion this year.
Advertisement
