Facebook Picks NASDAQ Over NYSE For May 2012 IPO:
The NASDAQ needed this one.
Facebook is set to conduct its initial public offering (IPO) in the next month and the company has chosen NASDAQ to list the new shares. The battle to get Facebook listed on their exchange was similar to Jay Leno and David Letterman trying to host the Late Night Show on NBC in 1992. Facebook eventually chose to go with the technology heavy stock exchange that lists the likes of Dell, Microsoft, Apple and Google.
No confirmation has come yet from the NYSE or NASDAQ and Facebook but CNBC reported the news today. Facebook may have chosen the NASDAQ because the stock exchange is filled with entrepreneurs who have created tech companies and this could have a positive spillover effects on Facebook’s brand.
The NYSE has had a good year listing social media firms like Pandora and LinkedIn but Facebook is could be the largest IPO to hit Wall Street in years. NASDAQ must have made several partnership-marketing agreements to push this deal.
After losing some big websites that IPOd recently, it was necessary for NASDAQ to make this deal happen so the exchange probably went the extra mile. Expect to see a large marketing push from NASDAQ now that they’ve caught the big fish – Facebook. The new deal between Facebook and NASDAQ will be beneficial for both brands. Commercials, online ads and the NASDAQ big billboard will proudly feature the largest social media site in the country.
Facebook’s ticker symbol will be FB.