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Facebook classes its shares, denies it's going public

Facebook - share and share alike
Facebook - share and share alike

Facebook has announced that it is changing the way its share system works, with the company offering up two separate classes of shares.

The new share system is made up of B Class and A Class shares. The B Class shares will provide their owners with 10 times the voting power of an A Class share holder, meaning that if the company did ever decide to sell shares, founder Marc Zuckerberg and the other members of the board would still be able to retain control of the company.

This is nothing but a good thing when the company you have control of is worth billions

Not going public

The move doesn't mean that Facebook is looking to go public, as a spokesperson explains: "We did introduce a dual-class stock structure because existing shareholders wanted to maintain control over voting on certain issues to help ensure the company can continue to focus on the long term to build a great business.

"This revision to the stock structure should not be construed as a signal the company is planning to go public."

The dual-class share system is something Google brought in to play, according to the Telegraph, just before it went public in 2004.

Not that we are construing anything into Facebook's decision to adopt the system. Honestly Mr Facebook, we're not.