Hoodie on show for IPO
FACEBOOK’S Mark Zuckerberg has long been known for wearing the unbusinesslike hoodie. But now he’s going to the public financial markets, some observers expected him to show slightly more decorum.
One such critic is Wedbush’s managing director Michael Pachter, who said what many investors might have been thinking on Bloomberg: “Mark and his signature hoodie: He’s actually showing investors he doesn’t care that much; he’s going to be him. I think that’s a mark of immaturity. I think that he has to realise he’s bringing investors in as a new constituency right now, and I think he’s got to show them the respect that they deserve because he’s asking them for their money.”
Other observers were not so judgemental, with some arguing that they’d rather invest in a company led by Zuckerberg wearing a hoodie than the kind of more conventionally dressed leaders that run less successful internet-based rivals.
Rarely has the manner of a business leader’s attire caused quite so much debate on the occasion of an IPO.
Pachter could not have been too bothered, though, because he values the Facebook shares at $44, at the top of the range, and gives them an “outperform” rating.
Gradually, as the debate over Zuckerberg’s attire wore on, rare pictures emerged of the Facebook founder suited and booted as he met President Obama last year.
He clearly dresses up for some occasions.