We were staring down the barrel of Facebook's initial public offering (IPO) which is two weeks from now, but according to people "familiar with the matter", the social networking companies recent acquisitions and other business distractions are threatening to delay the IPO, reports CNBC.
Management at Facebook have been looking at a May offering, with a roadshow launch somewhere around May 7, and the start of trading late the week of the 14th, people with knowledge of the deal said. But recently, founder and CEO of Facebook, Mark Zuckerberg, has been focusing more on running the business and acquiring other companies such as Instagram, than preparing for the share sale.
This is according to the same people leaking this information, which is reportedly making it hard for him and other managers to focus 100-percent on the IPO preparations. Facebook is now looking to delay their roadshow a week from May 7 to May 14, or possibly the very end of May. This would delay initial trading until mid-June.
What mixes it up even more is that the Memorial Day holiday is on May 28, meaning that the stock market is less liquid, and thus less hospitable, to a new issue like Facebook for several trading days in late-May, rolling into a bigger issue for Facebook to be on the road or to launch trading. Effectively, says one person familiar with the matter, Facebook is looking at "Plan A, B, C, and a D" for its IPO.