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Tuesday, May 15, 2012
Zuckerberg Will Ring In Facebook IPO From Menlo Park HQ On Friday
He's not taking off the hoodie, and he's not going to NYC. TechCrunch has learned and confirmed that Facebook will IPO on Friday with CEO Mark Zuckerberg ringing the NASDAQ bell remotely from his company's new Menlo Park headquarters. This follows the trend of companies like Zynga who also rung the IPO bell from their home base rather than New York. CNBC tweeted the news this morning and we've verified this with another source close to the IPO proceedings. Some investors worry about Facebook's ability to earn revenue on mobile as more of its users migrate away from the classic web interface. But now Bloomberg reports that Facebook will cease taking orders for shares tomorrow and that the IPO will be massively oversubscribed, despite citing?underwhelming demand from investors a few days ago. Wall Street professionals aside, national fervor over the popular social network's entrance into the public market has amateur investors pleading with their brokers to get them stock.
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