Posted by Ben Berkon on March 4, 2010 05:56 PM
Facebook has been a staple in social networking since it’s debut in September 2006, and because of its reign, it generates upwards of $300 million in revenue per year. Due to its ever-increasing popularity and value, its move to Wall Street appears to just be a stones-throw away.
Surprisingly, Mark Zuckerberg, the Founder and CEO of Facebook, doesn’t see a marriage anytime soon.
"We're going to go public eventually, because that's the contract that we have with our investors and our employees," said Zuckerberg. "We are definitely in no rush."
Surely any chemically balanced entrepreneur in possession of a brand worth billions would cash in their chips by publicizing shares of stock. However, friends and co-workers of the Facebook founder know that Zuckerberg not only enjoys creative and financial control, but control in general.
Unlike other technology powerhouses like Microsoft, Apple, and Google, Zuckerberg’s Facebook is much more centralized and internalized—the goal: simply making Facebook the best possible social networking website possible. There are no warehouses, gadgets, or even competition (no, not even Twitter). Of course he’s in it for the money, but in his mind, he’s dealing with a very personal product.
Zuckerberg has built Facebook into what it has become, and he is rightfully fearful of the hypothetical direction Facebook may take once it falls into the hands of millions of public investors. Will those investors care more about the quick money in their pockets, or boasting more than ten billion tweets?