The reason, according to The Financial Times‘ sources, has nothing to do with uncertain market conditions; rather it reflects a desire to keep employees focused on product development.
The FT says Facebook’s IPO was originally set for April 2012, but a public offering is now being planned for “September or later.” The report pegs the current value of the IPO at $66.5 billion. Facebook reps could not be reached for comment.
The report of the delayed IPO comes as Groupon and Zynga have both pushed back the dates of their planned IPOs. Unlike Facebook, those two companies cited the volatile stock market for their delays. Facebook’s 2011 revenues, meanwhile, have been estimated to be in the $4 billion range.