When Google was considering the timing of its IPO back in 2003/2004, I remember reading about an SEC regulation that requires private companies to make regular

When Google was considering the timing of its IPO back in 2003/2004, I remember reading about an SEC regulation that requires private companies to make regular public disclosures (10K filings) if they hit certain shareholder and asset thresholds. There was some speculation that this regulation may have played some part in forcing Google to go public sooner rather than later. I don't know where/how it figures into Facebook's thinking, but it may be that the same issue may arise in which a private Facebook might face some of the public scrutiny a public corporation might and decide that if they must disclose, they may as well reap some of the benefits of going public. For what it's worth, here's the specific reporting obligation I'm referring to as noted in a Wikipedia article (since I can't find it on the SEC website): "Companies with more than $10 million in assets whose securities are held by more than 500 owners must file annual and other periodic reports, regardless of whether the securities are publicly or privately traded." http://en.wikipedia.org/wiki/Form_10-K http://en.wikipedia.org/wiki/Form_10-K