Armed with a pricing point, Facebook is taking its pitch to investors on the road. And Mark Zuckerberg showed up to a New York event in his customary black hoodie and sneakers — it seems only meeting the president will wrestle him into a jacket and tie.
The roadshow itself was said to be uneventful, with CEO Zuckerberg and other executives answering just a few questions about the company’s strategy in China, its acquisition of Instagram and its plans for mobile products, the Wall Street Journal reported.
When it comes to the Instagram deal, Zuckerberg reportedly told potential investors that he’d “do it again.”
Facebook also visited Boston Tuesday, but — according to the Boston Herald— Zuckerberg was not in attendance. The company is also scheduled to head to Palo Alto, Calif.
For your own taste of what the company’s selling, you can also visit its online roadshow, which is more or less a half-hour’s sentimental journey outlining the company’s vision of connecting the world.
There’s a lot of buzz around Facebook’s initial public offering, which is priced in a range of $28-$35 per share, but not everyone is set to jump on board right away.
Legendary investor Warren Buffett said that he avoids buying stock in companies like Facebook because it’s hard to estimate what they’re worth, Bloomberg reported Thursday.
“I’m an agnostic on a company like Facebook. Anytime you get a truly extraordinary business — and it’s obvious it’s an extraordinary business — they’re the hardest ones to value,” Buffett told the news organization.
Alexis Ohanian, the founder of Reddit, said that he will not be buying Facebook stock either, but not because he’s wary about its prospects.
Ohanian told CNN Tuesday morning that he won’t invest in the company because of its support of the Cyber Intelligence Sharing and Protection Act, which aims to make it easier for private companies and the government to share information on cyber threats. The bill, which passed the House last month, has raised concerns among privacy and civil liberty advocates who say that it will make it far too easy for a company like Facebook to share personal user information without due process.
For most people, the decision to invest in Facebook or not won’t be a major concern — it’s unlikely that many small investors will get the chance to grab a piece of the IPO pie. The New York Times has reported that it appears that a portion of the market debut, perhaps up to 20 or 25 percent, will be available to brokerage firms like TD Ameritrade or E*Trade, but it’s still fairly unlikely that most retail investors will be able to buy up any shares at all.
(The Washington Post Co. Chairman Donald E. Graham sits on the board of Facebook.)