Tuesday September 04, 2012

The Man Behind Facebook’s IPO Debacle

I hear Facebook might be looking for a new CFO (if not, they should be). And all this time we thought Zuckerberg was to blame for this whole fiasco. eek!

And yet if there is one single individual more responsible than any other for the staggering mispricing of Facebook’s I.P.O., it is Mr. Ebersman. He signed off on the ever-increasing offer price, which ended up at $38 after the company had originally planned a price range of $29 to $34. He آ— almost alone آ— pushed to flood the market with 25 percent more shares than originally planned in the final days before the offering.