Facebook May Be Forced Into IPO
As we all know, Facebook is officially worth $50 billion after an incredibly successful round of funding from Goldman Sachs investors. Moments after, the whispers of “IPO” began. Business Insider is reporting that law professor Adam Pritchard says that due to the Securities and Exchange Act of 1934, rule 12g51(b)(3), the company will legally be required to register as a public company. This law states that companies with more than $10 million in assets and over 499 shareholders must become IPOs – for some purposes.
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