Facebook's Initial Public Offering is happening in just two and a half weeks time, according to a Wall Street journal report on Tuesday. According to the usual anonymous sources who are familiar with the matter, the Journal says Facebook will begin its IPO roadshow on Monday May 7.
That's when companies traditionally make rounds of mutual funds, large banks and other major investors looking for multi million dollar stakes. The name of the IPO roadshow game is to explain why the stock will be such a good buy.
Facebook CEO and founder Mark Zuckerberg will only be present for some of the roadshows, say the sources; COO Sheryl Sandberg will handle the rest, along with CFO David Ebersman.
After the roadshow, it will set for Friday May 18, where the IPO should shift $10 billion worth of Facebook stock leaving the social network with an overall valuation of $100 billion. Zuckerberg is poised to be one of the world's richest man after that.
Kevin Systrom will definitely be watching the IPO closely. Much of the $1 billion deal for Instagram was for Facebook stock, and we're guessing he's going to make more than $400 million from the deal. Instant billionaire.
Here's a very important development in technology. The engineers over at Hendo just released a video of their real-world Back to the Future style hoverboard. It works, and they're showing it off. Read more