Facebook executives hit road to try & convince investors to buy stock when it goes on sale
POSTED: Monday, May 7, 2012 - 9:00am
UPDATED: Monday, May 7, 2012 - 9:01am
NBC NATIONAL NEWS — Before sending his sales force out, Mark Zuckerberg put out an online video touting the virtue and value of Facebook.
The founder and CEO makes the case that Facebook execs will start taking to investors that access to Facebook's 900 million users is really what is up for sale here.
"Wall St. loves the fact that they have so many users," said Paul Sloan CNET Executive editor.
Sloan has written extensively on Facebook's initial public offering, now set for around May 17th.
"Advertisers want nothing more than to be all over Facebook because they've never seen a site with so much usage, right?," said Sloan.
Sloan says the IPO is exposing a long standing reluctance by Zuckerberg to make Facebook more billboard than bulletin board and this could make investors reluctant.
"We all use Facebook we all have a lot of things there but if its suddenly our newsfeed is showing up with all kinds of advertising we're gonna bail. you're just not gonna come back. And so he needs to tread really carefully not to anger users," said Sloan.
The IPO stock prices are expected to be between $28 and $35 a share and make Zuckerberg even more of a billionaire just days after he turned 28 years old.