Why Instagram just made the lives of Facebook's IPO bankers a lot easier
Besides the 13 lucky engineers working at Instagram, another group lucked out when Mark Zuckerberg decided it would be a good idea to plunk down $1 billion to buy the company: the bankers charged with drumming up interest in Facebook's (presumably monster) IPO.
While the SEC has yet to bless Facebook's S-1, its lead bankers at Morgan Stanley are apparently already out there selling the story to big institutional investors to fill out what's known as the "order book" -- a commitment by mutual funds and other biggies to buy a certain number of shares. … Read more
