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July 24, 2007
Facebook: No IPO Until 2009
Well, there goes that idea. Facebook investor Peter Thiel says there will be no Facebook IPO until 2009, at the earliest. That, of course, could mean anything -- like convince us! -- but it's clear there isn't one in the offing right now.Facebook also is not ready to consider a public offering, for many of the same reasons it is not considering a sale.[via The Deal]Thiel said the "earliest" Facebook would go public is 2009, "and hopefully not until significantly after that." One route could be to emulate Mountain View, Calif.-based Google Inc. and go to the public markets after its business is well established.
"There are a lot of things Google did extremely well, and one of those was deferring the IPO decision until very late," he said. "It helped them build out the company team in ways they otherwise might not have fully done."
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ps Myspace apparently MySpace is going to do $1b in revenue this year...
MSFT just announced an agreement with Digg ( http://www.reuters.com/article/technologyNews/idUSN2536038320070725?feedType=RSS ), similar to their Facebook agreement, to be the exclusive display ad and contextual ad provider or somesuch. That's about 50 million users or visitors or whatever, per month, without AdSense? Am I understanding these announcements correctly? Damn - they just might find a way to make this online ad contest interesting after all!
Surely they won't IPO - they will get an offer they can't refuse from one of the big boys.
In that article he also notes that the magic "for sale" number sits around $7-10b, that they made around $150m last year (>$5/user/year). I recently noted that about 10% of my friends are on Facebook. If 27m users goes up to 200m users then unimproved revenue model could theoretically generate $1b... I would pay $10b if I was Microsoft (seeing as how half of that $150m is probably already coming from them)...