A long, long time ago (March, 2004), the tech-world was abuzz about a startup in breakout mode named Google. Rumors were floating about if and when the company would go public when an SEC loophole was found. It was only a short time later (April, 2004) that Google did file for an IPO which set the tech world on fire.

Today the geeksters are all abuzz about another startup in breakout mode, named Facebook. The same hype circle is flowing and people are now speculating on its IPO. Let me put that to rest and predict that it will happen within 12 months.

Why 12 months? Let's revisit Google. A primary motivator for Google going public when it did was the SEC loophole. The rule is going to hit Facebook in the same way:

Under securities law, U.S. companies that have $10 million of total assets and more than 500 stockholders must file a Form 10 with the Securities and Exchange Commission.

Tonight at the Web 2.0 Summit, Mark Zuckerberg stated, according to SAI:

Facebook has 300 employees (all with equity) and will have 700 in a year.

One can only imagine that at least half of the next 400 employees will also have equity. The $10 million in assets is practically a given.

Given this, it seems that Facebook will file by this time next year. At the latest, it will file April, 2009 (assuming no acquisitions) because the rule states that if your fiscal year ends December 31 and you are above the thresholds, you must file by April 30.

Labels: facebook, google, ipo, mark zuckerberg, markzuckerberg, sec, web 2.0, web 2.0 summit, web2.0, zuckerberg

Right about now is when I realize how great it is to live in Seattle (where it's 50°F) compared to living in Chicago (where it currently feels like -25°F). Another reason I love living in Seattle is the community built around technology and startups.

I want to pimp the guys at Seattle Tech Startups. Over the last few months, I've been able to meet and hang out with a couple times. Unfortunately, I don't get to hang out with them enough. Oh, and it's all free.

STS is a group of people who are working on great startups in the Seattle area. Each month there's a meeting where typically someone presents on an interesting topic and afterwards everyone discusses and then heads to a bar. I encourage all Seattle techies to check it out.

STS was started by Chuck Groom and Gaurav Oberoi, the founders of BillMonk, which if you didn't hear, was just bought by Obopay. Congrats, guys!

UPDATE (10:12AM): I should also note the mailing list is full of gems, so sign up!

Labels: billmonk, seattle, seattle tech startups, startups, sts, technology, web2.0