Reuters reports that the Facebook IPO is already oversubscribed. That means the upper end of the projected price range of $28 to $35 may be raised soon. In turn, Facebook could then raise more than the $10.6 billion expected. The data could also be a sign, although an unpredicatable one, that shares will rise once the IPO is complete.
Obviously, the worries about slow ad growth and a lack of revenue from the social network’s mobile initiatives have been trumped by expectations of how much a company with 900 million potential customers can expand.
Zuckermen’s hoodie must not have offended institutional investors as much as was believed. Neither did the objectionable video about the company which was shown at meetings with investors