GO
Loading...

Facebook to Hold Additional IPO Briefing with Analysts in April: Sources

Wednesday, 21 Mar 2012 | 2:00 PM ET
Facebook
AP
Facebook

Facebook plans to hold an additional briefing for analysts and bankers in April, at which time in-depth financial information may be discussed, according to people familiar with the matter.

A meeting held Monday March 19 at Facebook’s Menlo Park, Calif., headquarters and led by two top executives featured no talk of future financials, these people said.

Leading the presentation were chief operating officer Sheryl Sandberg and chief financial officer David Ebersman, who has been spearheading the multi-year process of taking Facebook public. Founder and CEO, Mark Zuckerberg, did not attend.

“For the purposes of the IPO, it’s fair to think of Mark Zuckerberg as a chairman, not a hands-on CEO”, one person familiar with the meeting said.

Holding such discussions before an IPO is a commonplace practice that often touches on forward-looking information for the purposes of allowing sell-side analysts to build research models.

Yahoo Board Battle Heats Up
CNBC's Kayla Tausche has details on Yahoo board nominations and Facebook holding an April meeting with sell-side analysts to discuss the company's financials in more detail.

Because attendees are required to sign non-disclosure agreements before entering these meetings, material information could be exempt from a requirement to be disclosed in the S-1 documents as well. However, given the sensitivity of such information where the Facebook deal is concerned, the company would likely to choose to broaden its disclosure if anything “material” were in the cards.

Facebook and its representatives declined to comment.

You can follow Kayla on Twitter at @kaylatausche

email: tech@cnbc.com

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.