Monday started out with news that Mark Zuckerberg would not be in Chancery Court after the social media giant faced decided not to issue a class of stock that would allow the Facebook CEO to retain voting control while selling off his stake in the company.
As you might remember, this column noted that Zuckerberg would be in town for the civil proceedings.
Big stockholders stared down the company, claiming the plan to issue non-voting stock would lower the value of their holders.
But Zuckerberg had no plans to stay away from Delaware. Instead, he made an unannounced visit with public officials and members of the well-known University of Delaware disaster research program. The location was Iron Hill’s original brewpub in Newark.
Zuckerberg posted a photo from the event, along to a report on the visit to his more than 90 million Facebook followers. He also stopped by Philadelphia’s legendary Pat’s for a cheesesteak.
Zuckerberg faces some serious challenges at Facebook as controversy swirls around technology that can be used by advertisers to target people susceptible to pitches from foreign governments white supremacists and so forth.
Meanwhile, the money continues to pour into the company, which along with Google dominates the digital ad market.
But the day of celebrity visits wasn’t over when former President Obama made a surprise appearance at a cocktail party fundraiser for the Beau Biden Foundation.
We found out about the power of Facebook from that event. With no one tipping off the media, Facebook posts quickly let us know that Obama was in the house.
