Facebook is in a corner. It needs to go public, and it’s partly Facebook’s fault — it just has too many shareholders, Dealbook reports.
They need to go public for two main reasons.
- Long-time employees have been exercising their options and selling the shares in large quantities on private markets.
- And in January, Facebook arranged to sell $1.5 billion in shares through Goldman Sachs to new investors. This offering appears to have pushed it over the line.
Still, Facebook will almost certainly have to go public during this time whether it wants to or not — and whether or not it can get a valuation of $100 billion or more in doing so. Read the full story.