Facebook schedules one last hackathon before going public (rumor)

Facebook schedules one last hackathon before going public (rumor)

Summary: Facebook is supposedly hosting one last hackathon as a private company just before it goes public, according to a new rumor. The event will end when Zuckerberg rings the Nasdaq bell remotely.

SHARE:

Update on May 17 - Facebook's last hackathon before going public is a go

Facebook has reportedly scheduled an all-nighter hackathon for Thursday (tomorrow) at its Menlo Park headquarters. It will end with Facebook co-founder and CEO Mark Zuckerberg ringing the Nasdaq bell remotely to signal the company has gone public.

The social networking has set up an internal Facebook Event page for the big day that supposedly already has over 1,000 saying they are going. "We want to get everyone together and remind ourselves that this company is about building things," a source told TechCrunch.

This hackathon will probably result in some new product ideas and features, unlike the last one we heard about: Facebook engineers + paint + beer = giant QR code on roof (video). After all, it's the last one Facebook will have as a private company. In the next few weeks, we'll probably hear about what Facebook engineers came up with. I admit; I'm excited.

Earlier today, Facebook increased its IPO size by 25 percent. The social networking giant is now offering some 421.2 million shares. The news follows yesterday's IPO price range increase from $28-$35 to $34-$38 per share. This means Facebook could raise anywhere between $14.32 billion and $16.01 billion when it goes public.

Facebook is widely expected to start trading on the Nasdaq this week under the "FB" ticker. Many believe this Friday is the big day; shares will be priced on May 17, with trading beginning on May 18. Another rumor says there could be a delay, but as every day passes, that seems less and less likely.

Update on May 17 - Facebook's last hackathon before going public is a go

See also:

Topics: Legal, Banking, Social Enterprise

Emil Protalinski

About Emil Protalinski

Emil is a freelance journalist writing for CNET and ZDNet. Over the years,
he has covered the tech industry for multiple publications, including Ars
Technica, Neowin, and TechSpot.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

0 comments
Log in or register to start the discussion