Mark Zuckerberg CEO of Facebook Inc. fielded questions about the No. 1 social network s slowing revenue growth and its $1 billion purchase of Instagram as he kicked off a cross-country roadshow to promote the company s $10 billion initial public offering.
Wearing his trademark “hoodie” sweatshirt, jeans and sneakers, the 27-year-old chief executive said he would do the Instagram deal again if he had to, according to people who attended the event.
Hundreds of investors attended the presentation at New York s Sheraton Hotel, which was closed to the media, on Monday.
The world s largest social network aims to raise about $10.6 billion, dwarfing the coming-out parties of tech companies like Google Inc and granting it a market value close to Amazon.com Inc s.
The 8-year-old social network that began as Zuckerberg s Harvard dorm room project indicated an IPO range of $28 to $35 a share on Thursday, which would value the company at $77 billion to $96 billion.