With the IPO market--not to mention the aftermarket--- shaky right now, it's no surprise that more firms are delaying their offerings. Facebook has joined that crowd. The Financial Times reports that the firm has decided not to go forward until at least the fall of 2012. Previously, people expected an offering around April 2012, if not earlier. In contrast, Groupon which had previously joined Zynga in delaying offerings, now says it would like to proceed with its offering, despite tough market conditions. The move also reflects the fact that the company has resolved some compliance issue with the SEC, which was none too pleased that a memo from the company CEO touting the business found its way into the media. The company also seems to have resolved issues over its quirky "adjusted consolidated segment operating income," or adjusted CSOI, a pro forma measure that left out marketing and other expenses. The company was basically forced to drop it. So it has all its ducks lined up finally, and appears ready to proceed. But if the market continues to crater, that may be rethought. You do not want to leave too much money on the table and suffer an embarrassment in the aftermarket. Facebook has taken the opposite path, which is understandable. There may be lots of internal reasons to stay private for as long as possible. This extra window will also allow the compliance folks to make sure they avoid the pitfalls that ensnared Groupon and Google before it. It has a lot on the line, and it makes sense to be prepared, as this really is an IPO event that will rival Google and before it Microsoft.

For more:
- here's the article
- here's a look at Groupon's decision