Facebook added E*trade to the list of underwriters for its much-awaited initial public offering. That could signal that Facebook is going to make sure Mom and Pop get at least a sliver of the $10.6 billion deal. Indeed, The New York Times says retail may get as much as 25% of the deal.
The company is seeking to give retail investors a bigger cut because it sees itself as a service created for, and driven by, consumers. One person briefed on the offering, who declined to be identified because of regulatory restrictions, said Facebook sees itself as “the people’s company.”
This would be a fitting twist — after all, Facebook is nothing without the little guy.