This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Facebook Investor David Sze: Hackers Celebrated IPO, Now They're Back To Work

By Tomio Geron



Facebook employees celebrated the company's initial public offering in the company's traditional wayâ¿¿an all-night hackathon. But after a quick bell-ringing ceremony the company went back to business as usual.

David Sze, partner at Greylock and an early investor in Facebook participated in the celebration. He stopped by Facebook's hackathon Thursday nightâ¿¿he acknowledged being up most of the nightâ¿¿and then came to Facebook headquarters for the Nasdaq bell-ringing ceremony at 9:30am ET. The ceremony took place in the central square at Facebook's new campusâ¿¿the former campus of Sun Microsystems. The excitement and energy were high, Sze said in an interview at the company's Menlo Park, Calif. headquarters.

"People were milling around in the middle of the square in anticipation," Sze said. "(COO) Sheryl (Sandberg) spoke a little bit. The (person from) Nasdaq spoke a little bit. Mark spoke. Then they opened the bell. Everyone cheered and celebrated for about 10 minutes. Then everyone went back to their offices and started working again. It's a great milestone for the company. Wonderful congratulations to all of them. But one of the great things about Facebook is you don't get to where they've gotten and get where they're going to go without being really focused."

Sze, number four on the Midas List this year,  invested for Greylock Partners in Facebook in early 2006, when Facebook was still a social network for co-eds only. That early investment, ridiculed by some at the time, is now worth well over a billion dollars and has made Greylock one of the high profile names in the venture capital industry.

But the celebration didn't last too long, Sze said. "People were celebrating. They're happy. A lot of people were up all night hacking. They were showing off some really cool projects and the like. Once it was over, they went back to work. Very classic Facebook."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs