Northern,WI  10/10/2012 (BasicMedia)  —  FaceBook (NASDAQ:FB): Zuckerberg Asking Why Be Public !  Anyone who sits in his shoes must be asking the obvious critical question.  Why in the hell am I public?  Really?  How did I get myself into this?  The headaches dealing with investors, answering questions from Wall Street analysts, getting grilled by the SEC…the hooded master had to have the seminal moment when he asked himself ?  Is it worth going through all this scrutiny to pay back Peter Theil ” ?  I could be sitting by my pool if I were private with my hoodie and flip flops on…!!” ” shit this is stupid” ….. “Now I understand why all those companies are going private!!” …I should have listened to Eduardo Saverin back in my dorm room not Sean Parker…!! Dammitt !!”


FaceBook (NASDAQ:FB) continues to get beat up in the media as the Wall Street Journal reported excerpts from SEC doucuments as FaceBook was going through the vetting process to IPO.  ” A dozen letters, published a month after the May 17 IPO on the SEC’s website, depict a management team hesitant to disclose information and still guessing at even rudimentary aspects of its business just weeks before the company held the largest-ever technology initial public offering. Many of the issues raised by the SEC and now unnerving investors were foreshadowed in the then-private correspondence between the SEC and Facebook.” said Reuters.


Facebook was founded by Mark Zuckerberg with his college roommates and fellow students Eduardo SaverinAndrew McCollumDustin Moskovitz and Chris Hughes.  The website’s membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University.

Quantcast estimates Facebook has 138.9 million monthly unique U.S. visitors in May 2011.   According toSocial Media Today, in April 2010 an estimated 41.6% of the U.S. population had a Facebook account. Nevertheless, Facebook’s market growth started to stall in some regions, with the site losing 7 million active users in the United States and Canada in May 2011.  In September 2012, Zuckerberg speaking about the drop in his company’s market value, described the decline as “disappointing” – the value of Facebook being almost half the $38 debut price in May 2012.


At some point the media will catch on to the fact that FaceBook going private and the US IPO markets hang in the balance of FaceBooks success or failure and will stop beating up Zuckerberg.  Like any successful founder – Zuckerberg – can choose to “toss it all”, and take his company private shielding himself from the SEC and public investors.  I bet he wishes he were back in the old private share trading markets where it wasn’t the wild west of scrutiny…but I guess it’s all fair in the current state of Social Media…but be careful what you ask for!!


Disclaimer:  We have no position in FaceBook and are not paid to write about them.

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