PALO ALTO, Calif. (TheStreet) -- Facebook founder Mark Zuckerberg is in no hurry to take his company public even as everyone in Silicon Valley and on Wall Street awaits the initial public offering of the social-networking site.
"We're going to go public eventually, because that's the contract that we have with our investors and our employees," Zuckerberg told the Wall Street Journal in an interview. But, he added, "We are definitely in no rush."
Unlike some of his predecessors such as Apple (AAPL) CEO Steve Jobs and Google's (GOOG) founders, Zuckerberg doesn't need huge cash reserves to build factories, a global distribution system or even a massive marketing machine, the Journal notes.
"If you don't need that capital, then all the pressures are different, and the motivations to go public are not there in the same way," Zuckerberg said.Zuckerberg has turned down several acquisition offers, the Journal reports. These include a $1 billion offer from Yahoo! (YHOO) in 2006 and an overture from Microsoft (MSFT) that was worth a possible $8 billion or more, people familiar with the matter told the newspaper. Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV