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Jim Koch, Boston Beer CEO, gives his insight and advice for Mark Zuckerberg with Facebook’s IPO.
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-- 900 and yet that's right are right but when the company goes public is it possible for these users to own a little bit of respect our next guest.
Got Christie when he took his complete public back in 1995.
And -- customers -- on the action joining us now Jim cook chairman and founder.
A Boston Beer company so let's go because I mean you put little flyers inside the actual gear and allowed customers to get in on the IPO was this.
You before it started trading before the syndicate broke like right now people are trying to get on FaceBook in on -- that the Fargo's -- -- it that would.
It was pointed it simultaneously.
We enabled our drinkers.
To buy shares that the public offering actually at a lower price than Wall Street paid.
Which aggravated Wall Street but.
Kept a lot of Sam Adams drinkers happy and they're more important are those customers sticking with you now seventeen years after the IPO that's the amazing -- seventeen years later over half of those people have remained our shareholders.
So is -- big correlation between people who drink beer and on stocks.
I think so and I mean beer think USC original social network and we were here way before FaceBook.
So a lot of criticism on FaceBook that.
Average people can't get access to these shares about to -- -- what a price much of -- remarks are covered -- -- but right now.
Well I can only speak for myself but -- you know an entrepreneur there.
Probably only has one IPO in their lifetime and to me I felt like.
If needed to be more than just financial transaction in a feeding frenzy it needs to be a value statement.
And her Mark Zuckerberg he's -- controlling shareholder he needs to be the custodians.
Of the company's values and to meet the IPO is very visible it's a great way to make a value statement.
That your customers are the most important people.
Did you see a boost in sales that we can we did you tell people ahead of time if you go out -- -- it there's a certificate -- side where you can get the stock cheap.
-- the SEC's pretty easy -- restrictive about all that stuff we just hung hang tags on the six packs.
And allowed our drinkers then to mail -- in.
And get priority in the public conference it was truly a public offering not so -- what -- -- who came up about.
You know was just to me very -- he's saying yeah yeah.
Well public offering right -- who's the most important -- Your customers so we did have to sort of fight Wall Street a little bit and get the SEC -- And now and what we were trying to do so is very difficult because -- -- because the beer industry just a couple of seconds has changed it's almost become like the wine industry to give us a particular about the taste of the year to craft -- it's great.
You know it's gone from being this sort of mass market.
Mass produced.
Industry to one where.
Appear cultures developing and in fact the center of gravity appear culture in the world is not -- world anymore.
It's small.
Craft brewers like Sam Adams changing beer.
What you put yourself up through there.
Larry I can't -- yeah.
And it is so much for coming -- we appreciate news here SC.
Well.
