Zuckerberg 'Hiding From Investors'

Facebook CEO sees little need to talk with bankers ahead of IPO

By Kevin Spak,  Newser Staff

Posted Mar 28, 2012 7:52 AM CDT

(Newser) – Investing millions in Facebook won't necessarily make Mark Zuckerberg friend you. Facebook's famous CEO skipped out on the company's first major meeting with analysts and bankers to discuss its IPO last week, and many of them aren't happy about it, Reuters reports. "We don't think that he should be hiding from the investors," said the director of capital strategies for the Teamsters Union pension funds. He says he's sending a letter to Teamster funds around the country urging them to be wary of the company due to its "anti-investor" governance.

At the meeting, one analyst asked how much they could expect to see of Zuckerberg going forward; they were told not to get their hopes up. But Henry Blodget of Business Insider said Zuckerberg was smart to skip the meeting: "It just wouldn't be a good use of his time." Real, long-term investors should take heart that Zuckerberg "doesn't give a crap about going public"—it shows the company is healthy already, and that Zuckerberg is focused on producing the best possible product.

In this July 6, 2011 file photo, Facebook CEO Mark Zuckerberg smiles during an announcement at Facebook headquarters in Palo Alto, Calif.   (AP Photo/Paul Sakuma, File)
In this May, 26, 2010 file photo, Facebook CEO Mark Zuckerberg talks about the social network site's new privacy settings in Palo Alto, Calif.   (AP Photo/Marcio Jose Sanchez, File)
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Investors are crazy to want to get in bed with a company where the guy who controls it doesn't even pretend to care about the rest of the shareholders. That seems like a recipe for disaster. - Greg Taxin, of activist investing firm Spotlight Advisors

Although it may seem startling to some folks on Wall Street, the way to create the most long-term value is not to spend time sucking up to investors. - Henry Blodget

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