Facebook delays public offering for a few years

Facebook founder and chief executive Mark Zuckerberg said he will eventually take his company public, but an initial public offering may not occur for a few years. 

Zuckerberg also said at the Reuters Global Technology Summit that the site is capitalised and will not need to seek funding from investors.

“I know for a lot of companies the IPO is the endpoint or the goal,” Zuckerberg said. “For us it will be an event on the path to where we want to get eventually.”

He also said that the company is “a few years out from” a public offering, and that he hopes to increase advertising sales by 70% over the next year, but was not seeking new funding.

“If there’s an investment to be done on very good terms, we will consider it if for no other reason than to have more buffer if we want to do something in the future,” he said.