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A comment on Zuckerberg's Big Facebook Mistake. Parent comment

Re:Zuckerberg's Big Facebook Mistake by uptown on Friday July 27, 2012 @04:38PM (#4303467)
Going public wasn't required by their investor count, but they would have had to have audited financials, so the benefits of remaining private would have been reduced anyway:

http://www.quora.com/Why-does-Facebook-need-to-go-public

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Re:Zuckerberg's Big Facebook Mistake by sbov on Friday July 27, 2012 @06:39PM (#4303904)
Facebook passed the 500 shareholder mark back in 2008 and got an exemption.

I've had no luck finding out why they then had to observe the rule by 2012 though.

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Re:Zuckerberg's Big Facebook Mistake by mohawk on Friday July 27, 2012 @06:51PM (#4303944)
Passing the 500 mark means you have to hand in SEC filings, nothing more.
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