Facebook board member moots possible IPO

Facebook will likely go public sometime after late 2012, according to venture capitalist, PayPal co-founder and Facebook board member Peter Thiel, who was speaking on Fox Business News at the time. The social networking site, which is based in Palo Alto, California, was founded by Mark Zuckerburg just six years ago and is reported to have had revenue of $800 million in 2009. Facebook’s backers include Digital Sky Technologies, Microsoft Corp, venture capital firms Accel Partners, Greylock Partners and Meritech Capital Partners, and Hong Kong investor Li Ka Shing.

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