Facebook investors: Seriously, no IPO this year
At a conference in Germany, investors Jim Breyer and Yuri Milner explicitly rule out the possibility that the massive social-networking site will go public in 2010.
After years of Facebook executives and investors saying "not yet" to an initial public offering, 2010 finally looked like the year when it could happen.
Nope. Or at least that's what two major Facebook investors, Digital Life Design conference in Munich on Tuesday.of Accel Partners and Yuri Milner of Digital Sky Technologies, said during an onstage talk at the
A live-blog of rough notes from the talk reveals that both Breyer and Milner ruled out the possibility that Facebook will go public anytime soon. "I am happy to announce that there will be no near term IPO on Facebook; this mean(s) 2010," the notes quoted Breyer as saying. "For them, it is all about getting the product and team right." Milner was a little less concrete, saying "we have permanent capital, we don't have to return money to investors, so we have unlimited patience."
But Breyer and Milner know what they're talking about. Accel Partners first invested in Facebook in 2005, when the company was still known as thefacebook.com. Russia-based Digital Sky Technologies was a splashier, more recent entry, first Zynga, one of the biggest companies to on Facebook's developer platform.last May and then --around the same time that it also invested in social games manufacturer