Facebook looks set to be preparing to file for an initial public offering in 2012, financial information sent by Goldman Sachs to potential investors suggests.
The documents sent out by Goldman Sachs show that the company is expecting to surpass 500 shareholders this year, something that could force Facebook into publicly disclosing its financial details as soon as 2012, the New York Times reports.
The US Securities and Exchange Commission (SEC) requires privately held companies with 500 or more shareholders to publicly disclose their financial details. This, it is speculated, could pave the way for Facebook to offer its first IPO.
According to the documents, for the first nine months of 2010, Facebook made a net profit of $355 million with total revenue for the period amounting to $1.2 billion.
The documents also showed that Facebook is looking to raise around $1.5 billion, adding more fuel to the speculation.