After India and Indonesia, the next stop for Facebook co-founder and CEO Mark Zuckerberg was South Korea, where a meeting at Samsung Electronics’ headquarters in Seoul spurred speculation that the two companies are collaborating on — you guessed it — a Facebook phone.
Allen & Co.
On the day that Facebook is holding its first-quarter earnings call, the social network also announced that Chief Financial Officer David Ebersman is leaving the company after nearly five years in the post, and he will be succeeded by current Vice President of Corporate Finance and Business Planning David Wehner, former CFO of game developer Zynga.
A total of 38.5 percent of the 421,233,615 Facebook shares purchased by underwriters prior to its initial public offering went to Morgan Stanley, while E*Trade, which had been touted as the best source of stock in the social network for individual investors, received only 0.05 percent of the shares, according to an amendment to Facebook’s S-1 filing with the Securities and Exchange Commission, filed after the close of trading Friday.
Deutsche Bank, Credit Suisse, and Citigroup will likely join the group of banks underwriting Facebook’s upcoming initial public offering.