According to The New York Times, Facebook has picked the NASDAQ to list its shares in the company’s upcoming IPO in May. This is a huge win for the exchange, which has been battling the New York Stock Exchange for tech company listings over the past year.
Facebook, which will list its shares under the symbol FB, is set to be the largest public offering since Google, reports The New York Times’ Evelyn Rusli. And Facebook could be valued as high as $100 billion in the IPO.
It’s been a veritable war between the two exchanges over tech company listings. Last year, NASDAQ got big listings with Zynga and Groupon, whereas the NYSE got LinkedIn and Pandora. In this year’s round of IPOs, Yelp and Millennial Media chose the NYSE, and Brightcove went with NASDAQ.
We should see Facebook confirm the listing in an updated S-1 filing soon.
Facebook is the world’s largest social network, with over 1 billion monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...