The Facebook IPO prospectus — and Mark Zuckerberg’s letter to investors

As an E*Trade customer forever, I see the IPOs out there but never before today have I been asked if I wish to place an order for shares prior to the first public offering of them. Also known as the Initial Public Offering, also known as the IPO. That happened today with Facebook when I logged into my E*Trade account. Not being of Warren Buffet status, I am confident my order will NOT be filled, but I placed one anyway. When I had to pick a price for my future shares somewhere in the projected sell range of $28 – $35 a share, I went with $35 — will it help? I will let you know next week when they start trading on May 14. E*Trade recommends highly that we not “flip” the shares but they can’t prevent us from doing so. I will hold to $60.

And with this process was the offering of the Facebook prospectus and the completion of a client profile questionnaire. The prospectus is normal by most standards, but with a higher degree of playfulness. See for yourself (it should open in a new window).

Facebook prospectus

Of most importance and why I am submitting this to you is Mark Zuckerberg’s letter to investors which begins on Page 84. I found it to be very genuine and almost sweet.

Let the craziness begin!

 

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