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Archive for July 21st, 2007

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What Mark, CEO of FaceBook, Things about the Future of his Fastest Growing Company .

In his first interview with TIME, Facebook CEO Mark Zuckerberg sat down with reporter Laura Locke to talk about Facebook’s rapid growth spurt, IPO rumors, future plans and the pressures of being a 23-year-old CEO in Silicon Valley.

TIME: So, if Facebook isn’t for sale and there’s no IPO in the works, how do you intend to satisfy your investors who put a total of $38 million into the company?

Zuckerberg: Well, they’re actually really supportive of this. What they want is to build a really great company, too. And if you think about the timeframe over which this has happened — we took our venture round from Accel Partners just about two years ago — they’re not in a rush. We have plenty of time to build something good.

TIME: Facebook is looking to hire a stock administrator, isn’t that a signal you’re preparing for an IPO?

Zuckerberg: Well, no. [Pause.] I mean, we grant options to all of our employees. At this point we have more than 250. It’s a core part of compensation, so you want to make sure you get it right for people. At some point in the future, if we get a chance to go down that [IPO] path, it will be valuable to have that — it’s a part of building out the company. I think it’s funny that people are paying so much attention to that.

TIME: What’s your grand plan for the company? How do you see it evolving over the next three to five years?

Zuckerberg: It’s tough to say, exactly, what things will look like in three to five years, but there’s a lot of work to do in just moving along the path that we’ve already set out. Right now we have 30 million active users on Facebook.

TIME: So, if Facebook isn’t for sale and there’s no IPO in the works, how do you intend to satisfy your investors who put a total of $38 million into the company?

Zuckerberg: Well, they’re actually really supportive of this. What they want is to build a really great company, too. And if you think about the timeframe over which this has happened — we took our venture round from Accel Partners just about two years ago — they’re not in a rush. We have plenty of time to build something good.

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