Not sure if the word has gotten out yet, but yesterday afternoon social networking site Facebook filed to go public. Almost as exciting as the news itself (for those who reach self-induced stroke levels of excitement over such things) was the answer to the burning question vis-à-vis which bank would win the coveted and lucrative role of lead bookrunner on the deal. As had been predicted, Morgan Stanley got the job. This happened, we've been told, because Morgan Stanley's "dominant" tech team "has been largely unchanged since the mid-1990's," is based in Menlo Park rather than New York, has "seen every tech cycle," and goes the extra mile to show that beneath their investment banker exteriors beat the hearts of a bunch of guys who really care. When it came to Pandora, which was said to be "wary" of the group, "Michael Grimes, co-head of global tech banking at Morgan Stanley, and his team wore concert T-shirts of their favorite bands from their Pandora profiles, including the Rolling Stones and Black Sabbath, under blue blazers when making their pitch." In landing the Groupon deal, Grimes and his underlings presumably made sure to note the steal they got on laser hair removal using the site. And, of course, when making the hard sell for LinkedIn and Facebook, the bankers "set up accounts...in a show of support for their prospective clients." AND YET! It appears only one networking site was granted the ultimate endorsement of Morgan Stanley.
From our man on the scene:
"Facebook is still blocked at MS. When we won the LinkedIn deal, they unblocked it. Just sayin.'"
Oh. Okay. So that's how it is. It's sweet nothings in Zuckerberg's ear 'til you get what you want and then you're embarrassed to be seen walking down the street together? But LNKD is good enough for you? Because what, they don't show any skin? Interesting. Oh, oh, just waiting for the check to clear? Well maybe by then Facebook will no longer be available to you. Maybe you'll be blocked, from the other side. And what'll you do then? Cry to LinkedIn about it for all Mark cares. And while you're at it, better ask for a few of your little LinkedIn friends, oh I'm sorry, "connections," for some advice on new jobs because when the Zuck is done? You'll never work in this town again.