Wednesday, May 23, 2012

Investors swarm Facebook's pre-IPO road show kickoff


Ahead of what's expected to be the biggest technology IPO in history, Facebook's executive team entered its first round of investor meetings to crowds befitting the arrival of a boy band. Facebook's power trio -- CEO Mark Zuckerberg, chief operating officer Sheryl Sandberg, and chief financial officer David Ebersman -- used a side entrance to duck into a Sheraton hotel in Manhattan early Monday afternoon. The group then spent 25 minutes answering about a dozen questions from some 400 investors packed into a ballroom, according to three attendees who described the presentation.
Andrew Beja, a manager with Granahan Investment Management who attended the presentation, spoke on the record. Two other attendees declined to be identified by name. 
Even the most pessimistic potential investors said they expect Facebook to price its IPO above the range of   $28 to $ 35 per share it outlined in a recent Securities and Exchange Commission filing.

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