Anyone who's a fan of Facebook who has a Wired magazine subscription will be able to read how the social networking site might have to disclose some of its financial information next year.
The booming site, which boasts more than 600 million users worldwide, needs to go public by 2012, or it will have to give information to the Securities and Exchange Commission (SEC) in the US, reports Wired magazine.
Plans laid out in a 101-page document by Facebook have disclosed these terms.
According to US federal law and rules implemented by SEC, companies which have 500 shareholders and $10 million (£6.4 million) in assets must file financial reports with the government.
Facebook, in its document, said it could well pass the 500-shareholder threshold this year, meaning it will have to start giving its financial information to SEC.
Recently, it was revealed that Facebook was the most searched for term on the web in 2010.
The term also topped the 2009 list compiled by Experian Hitwise, showing the continued popularity of social networking.
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Posted by Arabella Gibson
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