Facebook to make stock debut on NASDAQ: report

April 5, 2012
Pedestrians walk past the Nasdaq stock market at Times Square in New York City in March 2012. Facebook has picked the technology-heavy NASDAQ exchange for a much-anticipated stock market debut expected next month, according to unconfirmed reports Thursday.

Facebook has picked the technology-heavy NASDAQ exchange for a much-anticipated stock market debut expected next month, according to unconfirmed reports Thursday.

Facebook will trade under the symbol "FB" in a record-setting of shares on the NASDAQ, the New York Times said in a story citing unnamed sources.

Facebook in February filed to go public and could raise as much as $10 billion in the largest flotation ever by an Internet company on Wall Street.

The paperwork filed for the initial public offering provided the first glimpse of the financial details of the web giant launched eight years ago by from his Harvard University dorm room.

Facebook, which is shifting operations to a former campus in the California city of Menlo Park, reported net income of $668 million last year.

Revenue nearly doubled to $3.7 billion in 2011, with most of it coming from targeted advertising gleaned from personal information shared by the hundreds of millions of users of the platform.

-- the leading social network in all but six countries, notably China and Russia -- said it has more than 845 million users including 483 million who log in daily.

Facebook's value has been estimated at between $75 billion and $100 billion.

Explore further: Facebook in no rush to go public: Zuckerberg

Related Stories

Recommended for you

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Netherlands bank customers can get vocal on payments

August 1, 2015

Are some people fed up with remembering and using passwords and PINs to make it though the day? Those who have had enough would prefer to do without them. For mobile tasks that involve banking, though, it is obvious that ...

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

1 comment

Adjust slider to filter visible comments by rank

Display comments: newest first

Jill_Kennedy
not rated yet Apr 05, 2012
After an initial run up, Facebook is going to come down to Earth hard. Let's just hope it doesn't bring the entire index down with it...

Google: Facebook and the Disappearing Valuation

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.