Facebook has declined to spin-off its Workplace app valued at over $1bn unicorn.
Workplace, Facebook's collaboration tool for businesses has gained more than seven million paid enterprise users, the reports said.
Facebook declined the offer as it sees Workplace as a "strategic asset".
The reports said that Facebook was approached by enterprise investors offering the social network a "proposition", "spin off the organisation, they said, and let us back it as a startup".
A deal would have valued a newly independent Workplace as a "unicorn" (at least at $1 billion).
(With inputs from IANS)