Excerpt from an extensive Facebook snapshot
"The company is definitely set up in a way where myself and the other founders have a lot of control over it," he says. Investors who signed on, he adds, "understood that they fundamentally weren't going to be able to push us in a direction that we wouldn't want to go."
Any IPO timing is squarely in Mr. Zuckerberg's hands. He owns more than a quarter of Facebook's stock and controls votes for three of five board seats, say people familiar with the matter. A Facebook spokesman declined to comment on the board structure or Mr. Zuckerberg's ownership.