Facebook primes the IPO sucker pump

Social networking giant adds 25 underwriters to original half-dozen


The company filed to go public on February 1.

The Facebook IPO will culminate several years of incredible hype regarding the social network's growth and reach. Over the past year, the value of Facebook shares trading on private exchanges have continued to rise, fueled in part by continued injections of venture capital and -- just my opinion -- media manipulation by anonymous sources who undoubtedly have a huge vested interest in creating a Facebook IPO frenzy.

Now the company has 25 more potential anonymous sources to prime the sucker pump, quiet period or no quiet period. Sounds harsh, I know, but IPOs far too often fly and then flop, leaving the excitable rubes holding the bag and insiders making off with huge profits.

Shrewd move, Facebook.

Chris Nerney writes ITworld's Tech Business Today blog. Follow Chris on Twitter at @ChrisNerney. For the latest IT news, analysis and how-tos, follow ITworld on Twitter, Facebook, and Google+.

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