Not sure this has been posted yet, but roadshow materials are now available from FB's roadshow.
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Skimmed over the S1 this afternoon, some quick thoughts:
-The fact that everyone already expected this thing to be worth $100bn by the time the roadshow comes along, and that now we're seeing only a $75bn val (at the higher end) will potentially make this seem like an extra good deal for the big fish who are offering their bids to the syndicate teams. -Even assuming a moderate valuation at the midpoint, FB is going to almost 3x its cash hoard to about $10bn -Advertising revenue (and where else are revs from anyway??) on an increase, but not steady, actually weaker change y/y -Income fell y/y while monthly active years is on a continued increase albeit, again, at a slower rate of change. Have to watch the expenses here...
I fully expect this to pop come mid May once retail can join. This may well be the most anticipated IPO in recent memory.
I've gone over the s1 and done some calculations on what they will earn this year. With the price of what the fb stock will be after IPO day, it will be severely overvalued.
On another note, Facebook could actually turn about to be a great company that can produce solid earnings y/y. The way I see it growing is through ads. Advertisers could use facebook profiles to target specific consumers and tailor ads directly to each person. This could be huge. The only problem I see though is Zuckerberg. I heard some where that he doesn't favor advertisers.
I think he's been weary of ads since the beginning. If you remember, a couple of big arguments between Zuck and Saverin were about ads.
I like the video - Zuck actually seems like a normal dude for once instead of a potential Aspie tech genius.
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