Facebook founder Mark Zuckerberg launched the social networking company's investment roadshow Monday, aiming to snag buyers for the firm's $10.6 billion IPO.
But one man who won't be clamouring for shares is legendary investor Warren Buffet, who told investors over the weekend that he would let the eagerly-anticipated IPO on May 18 pass him by.
"We never buy into an offering," said Buffett, 81.
"The idea that something ... being offered with significant commissions, all kinds of publicity, the seller electing the time to sell, is going to be the best single investment that I can make in the world - among thousands of choices - is mathematically impossible," he explained.
Buffet's partner Charlie Munger, 88, hinted that a generational gap also played into the decision. "I don't invest in what I don't understand," he said. "And I don't want to understand Facebook."
In the roadshow, Zuckerberg and other Facebook executives will outline to bankers and investment firms their vision for the company, which dominates the social networking world but has yet to yield the revenues to justify its IPO valuation of some 100 billion dollars.
In a video released last week, Zuckerberg said his company's platform would eventually be integrated into almost every online activity, saying the company's influence on all things mobile was "going to reach the point where almost every app that you use is going to be integrated with Facebook in some way."
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