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Mark Zuckerberg Isn't Expecting To Play Hands-On Role In IPO

   
5:41 pm on Mar 20, 2012 (gmt 0)

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Mark Zuckerberg Isn't Expecting To Play Hands-On Role In IPO [online.wsj.com]
Facebook Inc. chief executive Mark Zuckerberg doesn't expect to play a hands-on role selling the social network's initial public offering to analysts, one Facebook executive told Wall Street analysts Monday.

The company is also planning to pay a below average fee to underwriters of the stock sale.

On Monday, Mr. Zuckerberg skipped a meeting of analysts and bankers at Facebook's Menlo Park, Calif., headquarters, according to people familiar with the meeting. In response to a question about his absence, the company's chief financial officer, David Ebersman, said Mr. Zuckerberg preferred to focus his time on developing the service rather than play a role with such analysts, the people said.