Facebook Isn't Going Public Until 2012

Peter Thiel, who is a board member at Facebook, was interviewed on FOX Business Network today, and said that the company probably won't come to the public markets until 2012, at the earliest. Thiel said, "[Facebook] will not IPO for awhile. I think we will follow the example of Google which is you do not go public until very, very late in the process. This is a by-product of Sarbanes-Oxley. At least two years. I think the company is on record saying it will not go public until 2012 at the earliest." Rumors have run rampant that a Facebook IPO would happen perhaps next year, as Wall Street seeks to cash in on the company's phenomenal growth. Here is the

discussing Facebook and its IPO plans.