Facebook Founder's No to IPO

Zuckerberg says going public is years away
By Peter Fearon,  Newser Staff
Posted Oct 18, 2007 12:21 AM CDT
Facebook Founder's No to IPO
Facebook founder Mark Zuckerberg smiles during a talk at Web 2.0 conference in San Francisco, Wednesday, Oct. 17, 2007. (AP Photo/Paul Sakuma)   (Associated Press)

Facebook's founder Mark Zuckerberg has quashed speculation over a possible initial public offering. Speaking to an overspill audience at the Web 2.0 conference, held in a ballroom of the ornate Palace Hotel in San Francisco, Zuckerberg said Facebook, the popular internet social network, would not be selling shares on Wall Street anytime soon.

He was closely questioned by conference host John Batelle. "Well, you have years before that event," Zuckerberg said about rumors of an impending IPO and the current clamor by potential investors. "I'm not saying it's never going to happen, but it's definitely years out." (Read more Facebook stories.)

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