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 to make stock market debut in May: report

Related Stories

Recommended for you

Volumetric 3-D printing builds on need for speed

December 11, 2017

While additive manufacturing (AM), commonly known as 3-D printing, is enabling engineers and scientists to build parts in configurations and designs never before possible, the impact of the technology has been limited by ...

Tech titans ramp up tools to win over children

December 10, 2017

From smartphone messaging tailored for tikes to computers for classrooms, technology titans are weaving their way into childhoods to form lifelong bonds, raising hackles of advocacy groups.

Mapping out a biorobotic future  

December 8, 2017

You might not think a research area as detailed, technically advanced and futuristic as building robots with living materials would need help getting organized, but that's precisely what Vickie Webster-Wood and a team from ...

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.