Facebook picks Nasdaq, sources say

Facebook has decided to list its shares on the Nasdaq under ticker symbol “FB,” according to unnamed New York Times sources.

When the social network first filed for an initial public offering in February, it did not reveal whether it would list shares on the Nasdaq or the New York Stock Exchange. New York Times sources say the company informed the exchanges of its decision this week.

Facebook will join Zynga, Apple and Google, among other notable tech companies on the Nasdaq. LinkedIn and Pandora chose the NYSE for their initial public offerings last year. Facebook is expected to go public in May with the largest offering since Google’s in 2004. Patent lawsuits between Facebook and Yahoo could affect the timing, however.

The social network is looking to raise $5 billion in its IPO, and it could be valued at about $100 billion. Facebook had $1 billion in net income on $3.71 billion in revenue in 2011, according to its S-1 filing. In February, shares on secondary market SharesPost cleared $44, valuing the company at $103.4 billion.

Tumblr Marketing

Mediabistro Course

Tumblr Marketing

Starting December 1, learn how to market using the most popular visual blog! In this course, you’ll learn how to develop a strategy for your own Tumblr account, get people to read and share your content, and integrate your marketing efforts with other social platforms. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Advertising Campaign Manager

Amazon
New York, NY

Web Content Specialist

Philadelphia College of Osteopathic Medicine
Atlanta, GA

Web Producer

InvestmentNews
New York, NY

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us