“I dont think Facebook needs to go public,” Andreessen, who co-founded Netscape Communications Corp. and oversaw its IPO in 1995, told Bloomberg in an e-mail. “Although Facebook clearly could go public if it wanted to.”
Facebook can raise any capital needed from private markets, while avoiding the scrutiny and listing costs that come with being publicly traded, said Andreessen, 37. Chief Executive Officer Mark Zuckerberg said last month he expects a Facebook IPO, though it isnt an immediate focus for the company.
Facebook, based in Palo Alto, California, has sold shares in several private transactions since its start in 2004. Last month, Russias Digital Sky Technologies paid $200 million for less than 2 percent of Facebook, valuing the company at $10 billion. Other investors are Microsoft Corp., Peter Thiels Founders Fund, and venture-capital firms Accel Partners and Greylock Partners.
The global recession has made it difficult for venture capital-funded companies to go public. There were no IPOs of venture-backed companies between September and March, the worst drought in at least 38 years, according to the National Venture Capital Association.
Larry Yu, a spokesman for Facebook, declined to comment.