Facebook Isn't Going Public Until 2012

Peter Thiel, who is a board member at Facebook, was interviewed on FOX Business Network today, and said that the company probably won't come to the public markets until 2012, at the earliest. Thiel said, "[Facebook] will not IPO for awhile. I think we will follow the example of Google which is you do not go public until very, very late in the process. This is a by-product of Sarbanes-Oxley. At least two years. I think the company is on record saying it will not go public until 2012 at the earliest." Rumors have run rampant that a Facebook IPO would happen perhaps next year, as Wall Street seeks to cash in on the company's phenomenal growth. Here is the video with Thiel discussing Facebook and its IPO plans.