Apple founder Steve Wozniak will buy Facebook stock at any price
Man who built the first Apple computer with Steve Jobs recommends snapping up shares in Facebook
STEVE WOZNIAK, who built the first Apple computer with Steve Jobs and who helped co-found the computing giant, has said that shares in rival tech firm Facebook are worth buying at any price.
"I would invest in Facebook," the Detroit Times reported him as saying yesterday while on a promotional trip in Australia. "I don't care what the opening price is."
At present the May 17-scheduled IPO of 337.4 million shares in Facebook Inc is likely to see the stock priced between $28 and $35, giving the company a market value of up to $96 billion.
"I was thankful to have a partnership with Steve Jobs and I see Mark Zuckerberg closer to the combination of us," Wozniak said. "When he speaks he speaks with a lot of idealism for the users and a lot of good ideas for the product overall."
(Perhaps coincidentally, Facebook is the largest customer for Fusion-io, making up just more than a third - 36 per cent - of the company's revenues.)
Wozniak also praised Facebook for not going to market earlier. "I'm glad they held out so long. You don't have to think that your only goal can be an IPO."
The 61-year-old programmer also revealed that due to a disagreement with the cable TV company that holds the broadband monopoly in his Silicon Valley town, he doesn't have a home internet connection.
"I don't have broadband at my home. I, Steve Wozniak, don't have broadband at my home.
"Broadband is a monopoly in my town – that means you can get it from a cable company, but I don't have cable. And so I can't get broadband in my house."
Wozniak explained that he relies on smartphones to access the internet, inadvertently blighting potential profits at his new favourite website: last week Facebook announced the increasing usage of mobile devices was impacting on its advertising revenues.