Facebook to put off IPO until 2012

Facebook will probably put off its initial public offering until 2012, giving Chief Executive Officer Mark Zuckerberg more time to gain users and boost sales.

Facebook would benefit from another year of growth absent the added scrutiny that comes with a public listing, instead of holding an IPO in 2011 as investors speculated. Still, Zuckerberg, who holds board control, could push for a stock sale at any time.

Waiting lets Zuckerberg hone the skills needed to steer a company that issues quarterly results while facing criticism on such matters as user privacy. Facebook, valued at $24.9 billion, would use the time to propel its user base beyond the 500 million mark reached this month.