Facebook’s CEO Mark Zuckerberg started the roadshow of Facebook IPO with a meeting with bankers on Wall Street which he attended wearing his “uniform”: hoodie, jeans and sneakers. Facebook wants to attract from the investors about $10.6 billion through the IPO, and the entire company would therefore be valued at up to $96 billion, Wall Street Journal writes in its electronic edition. Mark Zuckerberg, 27 years old, controls Facebook through several agreements with other shareholders, even though he doesn’t own a majority stake in the company. Facebook chief was accompanied by Finance Director David Ebersman, dressed in suit and tie, and the Chief Operations Officer, Sheryl Sandberg, wearing a black dress and high heels.
Hundreds of investors stormed the Sheraton Hotel in Manhattan, waiting in queue at the entrance, watched by police and organizers, a stark contrast to presentations of common public offerings. The event, held in the ballroom of the hotel was planned for 400 people. Participants have been requested several pieces of identification and were verified on a list of names. Curious passers-by have asked journalists and investors questions about the event in front of the hotel as they were expecting the arrival of Facebook executives.
One of the investors said in jest that the meeting should take place at Madison Square Garden, a multipurpose arena in New York, used for concerts as well as home of New York Knicks basketball team.
“I have never seen such a thing,” said another investor in attendance. Analysts said that the event held Monday in the U.S. signals a very high interest for one of the largest listings in the IT sector in recent years.
Facebook, the social networking website founded by Zuckerberg eight years ago, currently the largest in the world, has indicated a price range for the listing of $28-$35 per share, valuing the company at $77-$96 billion. Public offering size reflects the optimistic expectations regarding the development of Facebook and its capacity of revenue generation. Many investors believe that Facebook will increase the price range during the tour presentation. The series of presentations that began Monday in New York will continue in the next two weeks with meetings with investors in cities like Chicago, Boston or San Francisco.
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