Top social network Facebook inadvertently revealed that it is preparing to go public with its financial data sometime in 2012. Facebook expects its investor population to exceed 499 this year, it reportedly states in a private placement document leaked to a number of media outlets from Goldman Sachs, which would compel it to disclose tons of financial information. Per SEC rules, companies have to report financial data within 120 days of the end of the year they reach 500 investors.
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Facebook Faces Loss of Its Privacy
Posted by: Rob Spiegel January 7, 2011 12:46 PMTop social network Facebook inadvertently revealed that it is preparing to go public with its financial data sometime in 2012. Facebook expects its investor population to exceed 499 this year, it reportedly states in a private placement document leaked to a number of media outlets from Goldman Sachs, which would compel it to disclose tons of financial information. Per SEC rules, companies have to report financial data within 120 days of the end of the year they reach 500 investors.