Facebook CEO Mark Zuckerberg did not tip his hand about when the social networking giant would go public, when he sat down recently for an exclusive interview with ABC News’ Diane Sawyer.
“When it makes sense, right,” Zuckerberg told Sawyer, adding: “I mean, what we’re most focused on is just building these tools that help people stay connected with the people that they care about. And at some point along the path, I think it’ll make sense to have an IPO. But we’re not running the company to do that.”
General Motors has announced it intends to purchase auto finance company AmeriCredit Corp for $3.5 billion. According to the Reuters story the deal “removes an uncertainty for GM as it prepares for a stock offering intended to reduce the U.S. government’s nearly 61 percent ownership stake.”
Analysts expect good news when Microsoft reports its fiscal fourth-quarter earnings today, but that may not be enough to cheer some stakeholders, who are apparently displeased with CEO Steve Ballmer, according to a Daily Beast report. Citing unnamed sources, the Daily Beast said “there is growing resentment among a faction of certain executives inside the company who blame Ballmer for the years-long stagnation in Microsoft’s stock price.”
Heavyweight private equity firm Blackstone Group announced it has closed its latest $13.5-billion buyout fund, which it started raising nearly three years ago. The company’s sixth fund was initially targeted to be $20 billion, close to Blackstone’s previous buyout fund total of $21.7-billion. According to PE Hub editor Dan Primack, “this close does put a bit of pressure on rival firm KKR, which plans to begin marketing its new fund later this year.”