- According to The New York Times, Facebook is still on track for its expected mid-May I.P.O.
- “Despite whispers of delays, the world’s largest social network is in the process of finalizing its prospectus with regulators and may begin its roadshow as soon as early next week,” reports the Times.
- The “roadshow,” or presentation to investors, will likely span to New York, Boston, San Francisco, Chicago, Baltimore and possibly Los Angeles and will allow for Facebook’s chief financial officer David Ebersman to convince investors and analysts of Facebook’s worthiness. It’s unclear which meetings CEO Mark Zuckerberg will attend.
- The initial public offering has the potential “to be the largest Internet I.P.O. on record, dwarfing the recent offerings of Zynga and Groupon, as well as Google’s debut in 2004.”
- “While interest runs high, Facebook’s executives will have to outline a compelling picture for investors in the coming weeks, to justify a valuation of $100 billion or more and to offset lackluster first quarter earnings,” suggests the article. “In the first quarter, Facebook’s profits fell 12 percent to $205 million, amid mounting expenses.”
No Comments Yet
You can be the first to comment!
Leave a comment
You must be logged in to post a comment.