Recently, Facebook has conducted Initial Public Offering (IPO) event on Wall Street to discuss about the company’s progress and new ideas. As per reports from Kayla Tausche of CNBC, the meeting held has resulted in a new progress of trading debut for Facebook. The report from Tausche further stated that the meeting gathered at the company’s headquarters had gone unnoticed due of some factors.
In any company, there will be two typed of meetings, one for research analysts and another for the bankers underwriting the IPO. But in this event, they combined both the meetings into a single one which was held at Menlo Park, Calif. Even though members from both teams were present at the venue, for some legal reasons, they were not allowed to express their thoughts. There is no proof about what happened during the meeting or what analysts had expressed. But Tausche expresses that the talk would be on red flag raised by the Securities and Exchange Commission (SEC) on the company’s prospectus filing. This is because the SEC wants more detailed information of Facebook’s revenue stream and also about company’s resources that are available for handling its operation.
Based on reports from Wall Street journal clearly states that one key member of Facebook family did not attend the event. The report further clarifies that it was Mark Zuckerberg who did not join the other members on this particular day. The company’s financial officer offered Mark’s excuse for his absence saying that he was busy working to improve the service offered to his customers.