Term Sheet   What bearish investors are missing about Facebook
January 8, 2014: 2:44 PM ET  Investors who are worried about
Facebook's latest equity offering are overlooking the company's
fundamentals.  By Sanjay Sanghoee
131004135401-facebook-620xaFORTUNE -- Shortly after
Facebook's recent announcement of a new public offering worth
$1.5 billion, for which Mark Zuckerberg provided 60% of the
shares, Facebook stock fell amidst concerns that it is
overvalued. The shares rebounded on optimism about social media,
but it is a safe bet that such doubts will continue to plague
the company in 2014.  But the market may be missing the bigger
picture.  In terms of the new offering and particularly
Zuckerberg's role in it, even visionary founders are entitled to
monetize their ownership over time, and so this may not be a
signal of anything sinister. Besides, the shares being sold by
Zuckerberg account for only 10% of his holdings in Facebook
(FB) and only 2.5% of the voting power, so the impact to his
control will be