Facebook IPO could be delayed till June due to recent acquisitions
Apr 26, 10:42 am
Washington, Apr 26 (ANI): Facebook's much anticipated Initial Public Offering, which reportedly had been expected to be completed in mid-May, could be delayed until mid-June due to the additional disclosure required after a recent string of deals. According to CNBC, the stock market floatation was slated for 17 May, but could now take place in the early or middle part of the next month.
The report comes after a recent spending spree by Facebook chief executive Mark Zuckerberg,
The Telegraph reports. The social networking giant recently acquired mobile photo-sharing app Instagram for one billion dollars and purchased 650 technology patents from Microsoft for 550 million dollars.
The firm also bought a portfolio of 750 patents from IBM in March for an undisclosed sum. According to the paper, the flotation is expected to value Facebook at up to 100 billion dollars. (ANI)
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