Another Facebook IPO analyst meeting in April (rumor)
Facebook CFO David Ebersman led the meeting earlier this week, along with Facebook COO Sheryl Sandberg. Facebook Vice President and General Counsel Theodore Ullyot, Facebook Vice President of Engineering Mike Schroepfer, and Facebook Vice President of Product Chris Cox were also reportedly present.
Facebook co-founder and CEO Mark Zuckerberg, however, was not. The consensus appears to be that Zuckerberg prefers to focus his time on developing the service rather than discussing the company's $5 billion initial public offering (IPO) with analysts. Zuckerberg probably won't show up for April's meeting either, though as I've said before, he will likely end up playing some sort of role in selling the company's shares to investors.
Facebook originally started with six major banks as its underwriters: when the company released all its IPO numbers last month, Morgan Stanley received the coveted lead left role. "Lead left" refers to where the top underwriter's name appears on the IPO prospectus. Also on the initial list of bookrunners on the deal were J.P. Morgan, Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital, and Allen & Company.
Two weeks ago, Facebook doubled its credit facility to $5 billion, secured a $3 billion bridge loan, and added 25 more underwriters to its IPO filing. This brought the total number of banks to 31.
See also:
- How much is Facebook worth?
- Facebook files for $5 billion IPO
- Facebook's IPO in pictures and Facebook's IPO by the numbers
- Facebook updates IPO filing to underline Zynga deal
- Facebook details Zuckerberg's $500,000 salary, 45% bonus
- Mark Zuckerberg bought Facebook shareholders' votes for $100
- Facebook secures $5 billion credit line, adds 25 underwriters