Facebook schedules one last hackathon before going public (rumor)
Update on May 17 - Facebook's last hackathon before going public is a go
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:
- How much is Facebook worth?
- Facebook files for $5 billion IPO
- Facebook's IPO in pictures and Facebook's IPO by the numbers
- Facebook updates IPO filing to underline Zynga deal
- Facebook details Zuckerberg's $500,000 salary, 45% bonus
- Facebook amends IPO a fourth time, includes Q1 2012 financials
- Facebook sets $28 to $35 IPO price range
- Facebook roadshow kicks off with a video, IPO prospectus released