Facebook Exec: 'We're Going Public'
Just as buzz of LinkedIn's initial public offering settles, Facebook's chief operating officer said a Facebook IPO is "inevitable."
Sheryl Sandberg made the comment at the Reuters Global Technology Summit on Thursday. Reuters reports she did not provide details.
"It's a process that all companies go through. It's an inevitable process for us, the next thing that happens," Reuters quotes her as saying. "People used to ask us if we were going to get sold. People have stopped asking that question — we're not ... No one is buying us, we're going public."
The shares of LinkedIn, a business-focused social network, doubled during trading. As Korva reported yesterday, it was one of the most anticipated IPOs since Google went public in 2004.
Sandberg also said Facebook's CEO Mark Zuckerberg will make a trip to China later this year. But the news is little strange, because, as Time's Techland blog puts it Facebook is blocked in China:
Therein lies the problem. It's clear the Facebook CEO wants to make an imprint on one of the largest internet markets, but the Chinese population doesn't have access to the social networking site. Instead, they've got Renren and Xiaonei to make up for that gaping need to post incriminating photos of friends.
Sandberg said that Facebook's mission is to "connect the whole world," and there's no doing that "without also connecting China." Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.