Mr. Zuckerberg went on to tell employees that the press doesn’t know the company’s future plans, and if they did, they would have the same faith in Facebook’s ability to fulfill its lofty stock-market valuation. He said that investments the company has made over the last six to 12 months will soon bear fruit, the people said. During a question-and-answer session after Mr. Zuckerberg’s speech, one employee asked the CEO if employees are now allowed to talk about the stock price, according to the person familiar with the meeting. Yes, said Mr. Zuckerberg. People should feel comfortable talking about it, he said, but the price shouldn’t be the focus. Mr. Zuckerberg’s new show of sympathy toward shareholding employees was a marked change from his earlier disdain for stock-price talk. On the day of the IPO, Mr. Zuckerberg posted a picture to his Facebook wall of a poster that said, “stay focused, keep shipping.” Mr. Zuckerberg addressed his employees a few days later by saying jokingly, “So, you’ve heard we’re firing David?” referring to Chief Financial Officer David Ebersman, as Mr. Ebersman sat a few feet away, according to people familiar with the meeting. He then said, “We’re very proud of our deals team and we think they did a great job.” [WSJ]
Facebook’s Plummeting Stock Price Has Forced Mark Zuckerberg To Show Human Emotion Toward Shareholding-EmployeesBy Bess Levin
Fox Business Correspondent’s Drink Offer Brutally Rebuffed By Facebook CEO Despite Similarly Casual AttireBy Bess Levin
And after a late entrance, Mr. Zuckerberg also showed up, alongside his friend Drew Houston, the chief of Dropbox. Clad in his uniform gray shirt and jeans, Mr. Zuckerberg made a quick beeline for Duchin, but not before Dennis Kneale of Fox Business Network managed to get in a few words. “Can I buy you a vodka gimlet,” the boisterous Mr. Kneale asked, also dressed down in a short-sleeved black top and worn-in sneakers. The Facebook billionaire, whose stake is still billions of dollars, politely demurred, “I’m good, thanks.” [Dealbook]
In snaring the most coveted investment-banking assignment of the year, Morgan Stanley’s Michael Grimes insisted to a senior Facebook executive that he be the “single driver” of the company’s initial public offering, adding that if the deal soured, it would be his “throat to choke. [WSJ]
Is that how it is? Read more »
What if Mark Zuckerberg wore a Mr. Peanut costume to the Facebook roadshow?
What if Mark Zuckerberg dressed up as Jesus Quintana for the Facebook roadshow?
What if Mark Zuckerberg wore a tuxedo tee-shirt to the Facebook roadshow?
What if Mark Zuckerberg wore Crocs to the Facebook roadshow?
What if Mark Zuckerberg entered the Facebook roadshow as a member of the Lollipop Guild?
What if Mark Zuckerberg wore Capri pants to the Facebook roadshow?
What if Mark Zuckerberg wore a wetsuit to the Facebook roadshow?
What if Mark Zuckerberg wore a straitjacket to the Facebook roadshow?
What if Mark Zuckerberg dressed as Robocop for the Facebook roadshow?
What if Mark Zuckerberg wore a Lacoste polo with an argyle sweater wrapped around his neck to the Facebook roadshow?
What if Mark Zuckerberg wore dress pants, a button down shirt, and the Hannibal Lechter mask from Silence of the Lambs to the Facebook roadshow? Read more »
Standard Price Is Right rules, closest without going over, guesses in by 3:45PM. Read more »
A wonderful thing about the Facebook IPO is that there is a proliferation of imaginary markets in which to … well, not trade it exactly, but say what you would be doing if you could trade it, which is almost as good. Here is the Wall Street Journal’s imaginary market, with a “Current Price Prediction” of $52.43, off a touch from the $150.13 as of … yesterday. Admire their specificity! Elsewhere you get only binaries, or I guess ternaries, like CNBC’s “Do You Think Buying Facebook Shares Would Be a Good Investment?” [yes / no / don't know], or Felix Salmon’s “Are you seriously thinking of buying Facebook shares?” [yes / no / umm, I'm buying them for a friend].
In the imaginary market that counts (I guess?), Facebook is up “an average of 14 percent” (!) as the underwriters raised the IPO range from $28-$35 to $34-$38 in a refiled S-1 this morning. This is good news if you bought in the imaginary market at $28-$35, as I suppose the underwriters imaginarily did, and also good news if you avoided the real market when it last cleared north of $44, as this guy who’s pissing away his child’s college money on Facebook did. If you like numbers, you could look at these numbers*: Read more »