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Facebook Shakeup Renews Talk of Public Offering

By John Johnson,  Newser Staff

Posted Mar 31, 2009 7:30 PM CDT

(Newser) – Facebook today announced another big departure from its executive ranks, fueling speculation that a move to go public is gaining traction, the Wall Street Journal reports. The company's chief financial officer, Gideon Yu, is leaving, and Facebook is searching for a replacement who has experience at a public company, the Journal notes.

CEO Mark Zuckerberg, who has rejected acquisition offers, has said he hopes to go public in the next few years. Yu's departure is sure to heat up speculation that the company is moving toward that goal—he is the fourth senior executive to leave in the past year. An insider told the Journal that Facebook is in strong financial shape and expects revenue in 2009 to increase at least 70% over last year.

Facebook founder and CEO Mark Zuckerberg poses at Facebook headquarters in Palo Alto, Calif.
Facebook founder and CEO Mark Zuckerberg poses at Facebook headquarters in Palo Alto, Calif.   (AP Photo/Paul Sakuma)
Facebook CEO and founder Mark Zuckerberg, in a 2007 file photo.
Facebook CEO and founder Mark Zuckerberg, in a 2007 file photo.   (AP Photo/Craig Ruttle)
Facebook founder Mark Zuckerberg, in a 2007 file photo.
Facebook founder Mark Zuckerberg, in a 2007 file photo.   (AP Photo/Paul Sakuma)
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COMMENTS
Showing 2 of 2 comments
Derni
Apr 1, 2009 12:38 PM CDT
Ok-I'm ready to buy!
Robert_Dada
Apr 1, 2009 12:20 PM CDT
When is this country going to start producing things of tangible value? MySpace is already showing signs of wilting. Is Facebook far behind?

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