Apple Inc co-founder Steve Wozniak is planning to buy shares in Facebook Inc. (FB) when the social networking company sells stock to the public in what may be a record initial public offering for an Internet business, reports Bloomberg.
He said he would buy Facebook’s stock regardless of its valuation.
Wozniak and Steve Jobs co-founded the company and built the first Apple computer in 1976.
Facebook plans to raise as much as $11.8 billion in an IPO scheduled for May 17 in what would be the biggest in history for an Internet company. The company is offering 337.4 million shares to the public at $28 to $35, giving it a market value at the top of the range of $96 billion, Bloomberg said.
“I would invest in Facebook,” Wozniak said in an interview with Bloomberg Television in Sydney yesterday. “I don’t care what the opening price is.”
Wozniak is chief scientist at Fusion-io Inc. (FIO), a maker of flash-memory technology. The Salt Lake City based company counts Facebook as its biggest customer.
Menlo Park, California based Facebook makes up 36 percent of Fusion io’s revenue, according to data compiled by Bloomberg, followed by 24 percent coming from Apple and 14 percent from Hewlett Packard Co. (HPQ)
Facebook’s founder Mark Zuckerberg is a “real acute” businessman who mixes technical ability with the vision and corporate acumen of Steve Jobs, Wozniak said.
“I was thankful to have a partnership with Steve Jobs and I see Mark Zuckerberg closer to the combination of us,” he said. “When he speaks he speaks with a lot of idealism for the users and a lot of good ideas for the product overall.