MENLO PARK (KCBS) – The IPO clock is ticking for Menlo Park-based Facebook as the company prepares to sell its first public shares next week.
And Facebook’s top executives are now hitting the road, pitching the social network to big investors across the country.
In the company’s official roadshow video, Facebook CEO Mark Zuckerberg said the company makes people’s lives better by connecting them with others online.
KCBS’ Matt Bigler Reports:
“Now, it’s like there are real people on the end of the connection,” he said. “And before Facebook, there was nothing like that where you could do that.”
But PrivCo CEO Sam Hamadeh said he’s not sure if the video will work.
“I have never seen a roadshow like this,” Hamadeh said. “It actually feels more like a 30 minute infomercial.”
PrivCo is a data provider for pre-IPO companies. Hamadeh said that while the video tugs on your heartstrings, it’s pretty short on substance.
“You really don’t learn anything about the numbers, the financials or the future of the business,” he said.
Zuckerberg will continue to face tough questions as the roadshow continues up until next Friday, May 18, when the company is expected to go public.
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