Getting branded as “The Most Expensive Dog and Pony Show in the World” is not good footing to start a journey on a cross-country tour to sell a product, even if it is the most popular social media site in the world.
Facebook Chief Executive Mark Zuckerberg found that out today as he scrapped his 30-minute look-at-me video before a tough crowd of Boston investors, Wall Street analysts and hedge fund mavens at Boston ‘s sophisticated Four Seasons Hotel. The executives in attendance were in no mood for cute videos from the creator of the social media powerhouse. They wanted hard and fast answers that would convince them to spend billions and billions on Facebook ‘s Initial Public Offering (IPO).
Zuckerberg disappointed some when he decided to stick to smaller meetings on day 2 of the “road show “. Instead, he sent his trusted partner, Chief Operating Officer Sheryl Sandberg, to face the music. It ‘s possible that Zuckerberg was still recovering from the less than positive remarks he received from the New York investors the previous day. Reports from those Big Apple attendees drew a picture of unhappy investors who complained over not being given enough time to ask questions of Zuckerberg.
Apparently, the 30-minute video at the New York roadshow pulled a majority of the presentation time away, leaving only a few minutes to pepper the founder with investment questions. Zuckerberg, a notable of the one percent royalty, wore his trademark hoodie in spite of being in a sea of suits.
Zuckerberg started the eight-year-old company from his Harvard dorm. Investors are postulating a $28 to $35 per-share range for the Facebook IPO. That would give the company an estimated value of anywhere from $77 billion to nearly $100 billion. Zuckerbrg will also look to maintain a 57 percent stake in the comapny which to many investors means that in order to have faith in their investments, they have to have faith in the “kid next door “. We will all find out soon enough how the end results will play out…but it has been an exciting ride so far.