Facebook says IPO "a few years off"

Facebook boss Mark Zuckerberg has said the company has no immediate need of capital, and says although his plan is to eventually take the social networking company public, it won't be for a few years yet, reports Reuters.

Despite rumours of a new round of funding for the site, Zuckerberg gave the impression that he was in a position to pick and chose where the next bundle of cash is coming from:

"If there's an investment to be done on very good terms, we will consider it if for no other reason than to have more buffer if we want to do something in the future", Zuckerberg said at the Reuters Global Technology Summit.

"Some of the rumblings that people are reporting on, are just different conversations that have happened, but there's really nothing new to talk about there".

Regarding an IPO, Zuckerberg said: "I know for a lot of companies the IPO is the endpoint or the goal. For us it will be an event on the path to where we want to get eventually", and said Facebook is still "a few years out from that" as far as timescale goes.