Facebook CEO Mark Zuckerberg meets investors for IPO roadshow
Facebook co-founder and CEO Mark Zuckerberg today showed up to meet with roughly 600 people (50 bankers and 550 investors) in New York as part of the company's initial public offering (IPO) roadshow. Keeping up with tradition, he's sporting a hoodie. Zuckerberg arrived in a black SUV at the Sheraton Hotel just before 1:00 PM EST. Facebook CFO David Ebersman and Facebook COO Sheryl Sandberg are also present, according to CNBC.
Last week, Facebook set a $28 to $35 IPO price range today and then released the promotional video for its IPO roadshow as well its prospectus for investors. Many expect Facebook will raise its price range as the roadshow progresses.
Facebook co-founder and CEO Mark Zuckerberg will personally sell 30.2 million shares for the IPO. Despite this, he will still control the majority of the company: 57.3 percent of voting shares after the IPO.
Investors are likely relieved to see Zuckerberg make an appearance after his recent dismissive behavior (Zuckerberg skips Facebook analyst meeting (rumor) and Wall Street whines as Zuckerberg skips out on Facebook investors). The young man is simply too important to Facebook's business to not participate in his company's public offering.
The first rumor said Facebook will go public in the third week of May: the days of 14, 15, 16, 17, or 18. A second rumor narrowed it down to just two days: May 17 or May 24, claiming the choice will come down to how smoothly the Instagram acquisition goes. A third rumor said May 17, 2012 is the likely candidate. All three warned, however, that anything can still happen, and a fourth one said everything has been pushed back to June, but this is now extremely unlikely.
The most recent rumor says next Friday is the big day. Shares are expected to be priced on May 17, with trading beginning on May 18.
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
- Facebook amends IPO a fourth time, includes Q1 2012 financials
- Facebook sets $28 to $35 IPO price range
- Facebook roadshow kicks off with a video, IPO prospectus released