The Facebook Backlash Begins

Tyler Durden's picture


While it may come as no surprise to market-watchers, the market for over-priced internet IPOs seems to have become a little soft. Bloomberg is reporting that Kayak, which first filed to go public in November 2010 and put its plans on hold earlier this year because of choppy market conditions, is delaying its IPO. The online-travel service roadshow was just postponed and guess who the lead bank on Kayak's IPO was - yep, Morgan Stanley.

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Wed, 05/30/2012 - 15:43 | 2477045 Conman
Conman's picture

Oooh where can i sign up to buy shares in a company that does absolutely nothing except something that i can do myself if i spent 1 more minute clicking.

Wed, 05/30/2012 - 15:44 | 2477048 AlaricBalth
AlaricBalth's picture

Morgan Stanley is going to be a bit busy defending Facebook litigation, they probably won't have time for IPO's for awhile.

Wed, 05/30/2012 - 15:47 | 2477074 EscapeKey
EscapeKey's picture

Yeah I bet they're shaking in their boots, thinking about the eventual harsh $10,000 settlement and no admittance of wrongdoing.

Wed, 05/30/2012 - 15:53 | 2477097 ZerOhead
ZerOhead's picture

Its no time to launch a Kayak on choppy waters with a Faceberg already out there...

Wed, 05/30/2012 - 16:13 | 2477163 Chief KnocAHoma
Chief KnocAHoma's picture

UPDATING MY STATUS TO>>>>>> Zuckerberg is an ass!

I hope that girl divorces his arogant smug, jewish face and leaves him pennyless looking for a reach around fist fuck from a Facebook whore.

Wed, 05/30/2012 - 16:21 | 2477195 walküre
walküre's picture

They were spotted in China (of all places). I know she's from there but still? Maybe they're adopting a couple babies. Can Jews and Chinese even have babies? Isn't there some potential genealogical problem? I know that Jews and Blacks are not recommended to procreate due to some gene defect.

Wed, 05/30/2012 - 16:26 | 2477222 junkyardjack
junkyardjack's picture

Cool story, Hitler

Wed, 05/30/2012 - 16:42 | 2477284 Mark Carney
Mark Carney's picture

Hate me now, yes I'm one thefacebook.  I do not care.  I frankly only use it now to play scrabble with my mother and sister who live on opposite sides of Canada, Im stuck in middle.


Its actually fun to play, keeps your mind going and you can keep in touch with family in an interactive way.  But just recently FagBook has added "adds" that play and interrupt your game...BUT you can pay FagBook money to have them removed, but only for a little while.


Im done.........

Wed, 05/30/2012 - 16:51 | 2477325 Matt
Matt's picture

wow. the power of the Internet, where a discussion of the falling price of Facebook shares rapidly degenerates into racism and homophobia.

Wed, 05/30/2012 - 17:00 | 2477349 EscapeKey
EscapeKey's picture

That's the spirit! Who said the internet was all crap?

Wed, 05/30/2012 - 19:34 | 2477714 The Alarmist
The Alarmist's picture

Pretty much most of us, but that does not detract from its entertainment value.

On another note, Kayak pulliing its IPO due to rough waters seems kind of counterintuitive.

Wed, 05/30/2012 - 16:30 | 2477234 ffart
ffart's picture

Can any of you bigots honestly say that if you were Mark Zuckerberg you wouldn't also marry a Chinese woman? I mean it seems like a no brainer for a dude like him.

Wed, 05/30/2012 - 16:54 | 2477336 Chief KnocAHoma
Chief KnocAHoma's picture

First I am not a bigot... I hate intollerant people... as well as Arabs, Jews, Whites, Blacks and some Red Heads.... but that is beside the point.

If I had Zeefags money I would marry a Chineese girl, but make here live in Norway. That way she would seem exotic around all that blonde pussy.

Then I would also marry an Irish gal, and make her live in the Congo. Same theory. I would visit them both often with my hareem of hookers.

Of course I would write my own personal profile and claim I was born in Kenya, the son of an engineer and a hump back whale.

But other than that I would try to just live a quiet life.

Wed, 05/30/2012 - 17:02 | 2477354 Sokhmate
Sokhmate's picture

I would, if only for the tightness.

Wed, 05/30/2012 - 19:01 | 2477649 CSA
CSA's picture

That's not tightness, the slit is on there sideways.

Wed, 05/30/2012 - 19:36 | 2477718 The Alarmist
The Alarmist's picture

Inquiring minds want to know, however, if Z-man met his babe on

Wed, 05/30/2012 - 15:45 | 2477061 Death and Gravity
Death and Gravity's picture

Good. Free us of the .com bubble 2.0. Any business with a website and a maybe-potentially-profitable operation doesn't need to friggin' IPO.

Wed, 05/30/2012 - 15:53 | 2477095 Aziz
Aziz's picture

Something quite stunning I've noticed is that in the new dotcom bubble, companies are valued not by P/E but by projected future P/E. This is fancyspeak for counting chickens before they hatch.

FB's P/E is still a laughably high 92, and all the MSM hacks saying FB is cheap at $25 are idiots.

Wed, 05/30/2012 - 16:16 | 2477178 Matt
Matt's picture

Booyah Cramer. It's Bill here from Florida. I want your opinion on ZNGA. its down under $6; I bought in at $13 after your March 21 show in which you said "The force is with Zynga.". it has EPS of -$1.23 and a P/E of -5. Should I sell or double down at $5?

Wed, 05/30/2012 - 19:48 | 2477735 Jay Gould Esq.
Jay Gould Esq.'s picture

As we used to opine in the Old Days of ZH...


Wed, 05/30/2012 - 20:17 | 2477789 azzhatter
azzhatter's picture

I'll get back to you a little later, I'm doing an analysis of my Bear Stearns play tonite,


Cheers, JC

Wed, 05/30/2012 - 16:49 | 2477323 blunderdog
blunderdog's picture

    ...projected future P/E. that better or worse than Dot.Com Bubble v1.0, where they were valued based on short-term revenue growth and headcount?

Wed, 05/30/2012 - 15:57 | 2477111 SheepDog-One
SheepDog-One's picture

Fukin no-doubt....I cant believe these apparent morons really thought now was the time to pull off another .com era style IPO mania? Retail is dead, in case you hadn't noticed you idiot Wall Street hockey helmeted derptards!

Wed, 05/30/2012 - 21:18 | 2477897 pods
pods's picture

We were talking about this a couple years ago when Circuit City went under and everyone was going gaga over Best Buy.

We asked what does Best Buy sell?

Same thing as Circuit City.


Wed, 05/30/2012 - 16:21 | 2477167 Paul Atreides
Paul Atreides's picture

The cozy up post reads "I'm on your side fellas!"

Wed, 05/30/2012 - 15:46 | 2477066 battle axe
battle axe's picture

And the lead guy at Morgan on this deal, still says he did nothing wrong, fucking weasel.

Wed, 05/30/2012 - 15:48 | 2477079 e1618978
e1618978's picture

What did he do wrong?  I thought it was just a Nasdaq screw up.

Wed, 05/30/2012 - 16:30 | 2477231 battle axe
battle axe's picture

He missed priced the shit out of it. Hence why it is trading where it is....

Wed, 05/30/2012 - 15:50 | 2477090 slaughterer
slaughterer's picture

Kayak got Zucked. 

Wed, 05/30/2012 - 15:43 | 2477046 fonzannoon
fonzannoon's picture

I hope Jon Stewart compiles all the clips of Bloomberg and CNBC pitching this stock to the public endlessly and then throws it in their face as they try to search for who is to blame for people buying into thatr shit sandwich.

Wed, 05/30/2012 - 15:57 | 2477114 Clueless Economist
Clueless Economist's picture

Stewart is a buddy of that punk Zuckerberg.  He takes it easy on those he likes or are friends.  Obama and Weiner come to mind.

Wed, 05/30/2012 - 16:12 | 2477160 Zero Govt
Zero Govt's picture

yes Stweart licks arse, anything left of Karl Marx gets the soft touch from the rent a big leftie gob celeb

Wed, 05/30/2012 - 17:16 | 2477393 EscapeKey
EscapeKey's picture

Don't take life too seriously. Stewart has his funny moments, but just make sure you enjoy it as comedy and not factual or news.

Wed, 05/30/2012 - 17:55 | 2477491 Iwanttoknow
Iwanttoknow's picture

Stewart's brother is a big honcho at NYSE.

Wed, 05/30/2012 - 15:44 | 2477049 Hippocratic Oaf
Hippocratic Oaf's picture

Retail Hell

Mom and Pops scared away.......go figure

Wed, 05/30/2012 - 15:46 | 2477068 GolfHatesMe
GolfHatesMe's picture

Waddel and Reed already scared Mom and Pop away in 2010.

Wed, 05/30/2012 - 15:51 | 2477093 Hippocratic Oaf
Hippocratic Oaf's picture

While true, some felt this was the time to come back in, only for a 'taste'.......and an anvil got dropped on their dick

Wed, 05/30/2012 - 16:05 | 2477133 SheepDog-One
SheepDog-One's picture

Mom and Pops are home cuttin up a hot dog in some Ramen Noodles for dinner.

Wed, 05/30/2012 - 20:53 | 2477859 mendigo
mendigo's picture

I question if retail really took this bullet.
I suspect the pros got there first and were planning to flip it to the dumb money after it rocketed to 90. but a very funny thing happened. Of course they mostly playing with grandmas life savings so jokes still on dumb grandma.

Wed, 05/30/2012 - 15:46 | 2477053 El Oregonian
El Oregonian's picture

Kayak, I guess they were up shit creek without a paddle...

Wed, 05/30/2012 - 16:19 | 2477189 ArrestBobRubin
ArrestBobRubin's picture

Sorry to step on your line in my own comment below El OR. I hadn't seen yours.

Wed, 05/30/2012 - 16:19 | 2477069 Monkeyfister
Monkeyfister's picture


FB now at $28! Sucks to be a Shareholder!

Normally, we'd say, "Buy the F'n Dip!!"

But in this case, the best advice is: "Never Catch A Falling Knife!"

Wed, 05/30/2012 - 15:47 | 2477070 williambanzai7
williambanzai7's picture

Oh yes, social travel services. We need that desperately.

We certainly don't seem to need Moron Stanley desperately.

Wed, 05/30/2012 - 15:50 | 2477088 Ineverslice
Ineverslice's picture

Faceberg dead ahead!

Wed, 05/30/2012 - 16:24 | 2477213 walküre
walküre's picture

Tripadvisor would be the site to go public in that corner. They're actually useful and the ads to hotels make sense!


Wed, 05/30/2012 - 15:47 | 2477072 BlueStreet
BlueStreet's picture

The kayak has sprung a leak.  

Wed, 05/30/2012 - 15:47 | 2477077 TrainWreck1
TrainWreck1's picture

Facelash, Backbook, Flashbackbook, Flashdancebook, no, must be something better...

* pauses *

Eurethra! (um, ureka, no wait)


Fecebook is a sociel networking serfice-a und website-a loooonched in Febrooery 2004, oooned und oopereted by Fecebook, Inc. Bork Bork Bork!


Is ooff Mey 2012, Fecebook hes oofer 900 million ictife-a users, more-a thoon helff ooff zeem using mobile-a defices.


Users moost register beffore-a using zee-a site-a, iffter which zeey mey creete-a a personel proffile-a, idd oozeer users is friends, und ixchoonge-a messeges, inclooding uootometic notifficeshoons whee-a zeey updete-a zeeoor proffile-a. Iddishoonelly, users mey join common-interest user grooops, oorgoonized by workplece-a, school oor college-a, oor oozeer cherecteristics, und cetegorize-a zeeoor friends into lists sooch is "People-a From Work" oor "Close-a Friends". Zee-a neme-a ooff zee-a serfice-a stems from zee-a colloqooiel neme-a for zee-a book gifee-a to stoodents it zee-a stert ooff zee-a icedemic yeer by some-a unifersity idministreshoons in zee-a United Stetes to help stoodents get to know iech oozeer. Fecebook illows uny users who declere-a zeemselfes to be-a it leest 13 yeers oold to become-a registered users ooff zee-a site-a.


Fecebook wes fooonded by Merk Zoockerberg wit his college-a roommetes und fellow stoodents Idooerdo Seferin, Doostin Moskofitz und Chris Hooghes.


Zee-a website-a's membership wes initielly limited by zee-a fooonders to Herferd stoodents, boot wes ixpoonded to oozeer colleges in zee-a Boston irea, zee-a Ify Leegooe-a, und Stoonfford Unifersity. It gredooelly idded soopport for stoodents it feriooos oozeer unifersities beffore-a oopening to high school stoodents, und ifentooelly to unyone-a iged 13 und oofer. Howefer, iccording to a Mey 2011 Consoomer Reports soorfey, zeere-a ire-a 7.5 million childree-a under 13 wit iccooonts und 5 million under 10, fioleting zee-a site-a's terms ooff serfice-a.


A Joonooery 2009 stoody roonked Fecebook is zee-a most used sociel networking serfice-a by worldwide-a monthly ictife-a users.[8] Interteinment Weekly inclooded zee-a site-a oon its ind-ooff-zee-a-decede-a "best-ooff" list, seying, "How oon iert did we-a stelk oooor ixes, remember oooor co-workers' boorthdeys, boog oooor friends, und pley a rooosing geme-a ooff Screboolooos beffore-a Fecebook?"


Qoooontcest istimetes Fecebook hes 138.9 million monthly uniqooe-a U.S. fisitors in Mey 2011.[10] Iccording to Sociel Media Todey, in Ipril 2010 un istimeted 41.6% ooff zee-a U.S. popooleshoon hed a Fecebook iccooont.


Neferzeeless, Fecebook's merket growt sterted to stell in some-a regions, wit zee-a site-a losing 7 million ictife-a users in zee-a United Stetes und Cooneda in Mey 2011.


Fecebook is now getting into herdwere-a boosiness und is hoping to booild its ooon smertphone-a by 2013.


Wed, 05/30/2012 - 15:56 | 2477107 BeetleBailey
BeetleBailey's picture's


It has no face. No emotion.

All wires and nonsense...and it keeps....coming....eating dollars as it goes on...tirelessly....down....down...down.....and down...

Wed, 05/30/2012 - 16:41 | 2477282 ffart
ffart's picture


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