While some investors are less than pleased with the performance of the Facebook IPO, it was "priced perfectly" for the company, says Claire Gruppo, managing director and co-founder of Manhattan investment banking boutique Gruppo Levey, in this video interview.
The point of an IPO is to maximize value for the company and its investors and this was a winner, she says. Whether or not the IPO turns out to be successful for investors who bought shares at the opening price is another matter, she adds.
Among the positive outcomes of the IPO is the creation of a giant war chest of capital for Facebook to make the acquisitions it needs to make in order to evolve.
Gruppo's firm was not involved with Facebook IPO.
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