Does anyone else feel like we are watching, in real time, the education of Facebook Co-Founder and Chief Executive Officer Mark Zuckerberg? Yesterday was the first day of the Facebook roadshow, which started in New York, where the social network’s May 18 initial public offering was pitched to some 500 analysts and investors at the Sheraton Hotel in midtown Manhattan.
The Wall Street Journal reported that the lunchtime meeting didn’t seem as much to be about informing the financial professionals about the company as it was to put on a show. One investor admitted to the Journal that he didn’t expect anything to be revealed that wasn’t in Facebook’s securities filing, and he was there to take in the show, and lunch.
Some six queries were presented over 20 minutes, the Journal reported, and Zuckerberg departed about an hour-and-a-half after his arrival.
Day two of the Facebook roadshow found it at the Four Seasons in Boston this morning, where the Boston Herald reported that Zuckerberg was a no-show, and the roadshow video was not screened, but Sandberg and Ebersman gave a five-minute presentation and answered about one-dozen questions.
Thus far, analysts’ reports on the Facebook IPO have been bullish.