Popular social networking website Facebook has confirmed that it has established a dual-class stock structure to make sure that all its existing shareholders are given an equal control over voting, but has asserted that the company has no plans of going public.

"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", said Larry Yu, a Facebook spokesman. "Facebook has no plans to go public at this time".

Despite sending ripples in the market, the move has not surprised or shocked a lot of experts who believe that the social networking firm had always followed Google in certain things, and this was just another example. Google went into a dual-class stock long back.

Facebook, internet's top ranked social networking website with a user base of over 300 million users, has large chunks of investments from giants like Microsoft and Digital Sky Technologies.

As for the question of whether or not Facbook is going public, the answer for now is certainly a no. In May, Chief Executive Mark Zuckerberg was quoted as saying that an IPO was "a few years out".