Wednesday, May 22, 2024

Facebook IPO Could Be Delayed by Deals, Distractions

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CNBC: Unnamed sources who are “familiar with the matter” tell CNBC that Facebook’s IPO could be delayed until June. The company was expected to begin trading publicly in May, but now that seems less likely. The sources say that Facebook CEO Mark Zuckerberg has been focusing on running the company in recent weeks instead of preparing for the stock sale. In addition, the company has recently purchased Instagram and a large number of Microsoft patents. Those unexpected purchases will require the company to file more paperwork with regulators, which will also slow down the IPO process.

Sources say Facebook will likely launch its roadshow sometime after May 14, with the first day of trading not likely until mid-June.

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