Facebook IPO watch: The well-known social networking site Facebook chief executive Mark Zuckerberg, appeared in New York Manhattan Hotel with a black hoodie, preluding the road show of the Facebook IPO which is expected to become the biggest Internet company IPO in the Silicon Valley history.
Despite Facebook announced the IPO price range of $28-35 per share last week, based on this, the valuation on this company reached up to $96 billion, lower than the previously estimated $100 billion, not affecting investor optimism about this company. The people participating in the road show were queuing in line to the second floor of the hotel from a half block outside the hotel.
Although many investors had expected to obtain something out of the prospectus in the first roadshow, as a matter of fact the content is very conventional, there is no new information. Informed sources also revealed that Zuckerberg will not attend all the roadshows.
Facebook played an introductory video for half an hour, covering the mission, products and platforms, advertising, financials and future of the company. Zuckerberg and other executives explained the situation of Facebook and answered about six questions in 20 minutes, including the future in China, the income generation plan through mobile products and details of the acquisition of Instagram.
Zuckerberg spent about a half an hour in the road show. According to the scheme, Facebook will hold the following road shows in Boston, Chicago, and Menlo Park. The company will finally price the IPO on May 17. Facebook filed the IPO registration statement on February 1 this year and has applied to list its common shares on the Nasdaq under the symbol “FB.”
Also read: Analysts are bullish on Facebook stock before the IPO.