Facebook IPO: The date is set, Zuckerberg casts the dice at last
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Facebook's IPO is finally shaping up with the likely start of trading slated for May 18 after a roadshow starting next Monday.
A source familiar with the matter let the Wall Street Journal know the schedule for the roadshow, where the company goes around to investors and tells them how awesome it is and how everyone should buy its stock because here's its killer strategy.
The source also said that Facebook founder Mark Zuckerberg would be taking part in the roadshow. That would be a welcome change for investors who have been complaining that the Zuck, who controls the social network with an iron grip, has been hard to get hold of.
Zuck dissed the deep-pocketers at a March analysts' meeting, which they were pretty annoyed about since the man can spend a billion dollars on a company like Instagram from his couch, such is his power at Facebook.
The social network is hoping to raise a cool $5bn in its initial public offering, and is likely to see a frenzied first few days of trading as investors have been panting with expectation for ages now. ®