Facebook Schedules One Last Hackathon Before Going Public

Posted on May 17 2012 - 4:35am by Editorial Staff

Facebook has reportedly scheduled an all-night long hackathon for Thursday at its Menlo Park headquarters, just a day before the social giant goes public. Best part of hackathon is that it will end with Facebook co-founder and CEO Mark Zuckerberg ringing the Nasdaq bell turning the company into a public company. The social giant has set up an internal Event page which has already over 1,000 saying that they are going to be part of it. “We want to get everyone together and remind ourselves that this company is about building things,” a source told TechCrunch.

We reported earlier that Facebook tend to increase its share volumes by 25% and with the social giant’s eight amendments, the company increased its initial public offering range from $28-$35 to $34-$38 per share, and offered 50.6 million more shares. Facebook is now offering 180,000,000 shares of its Class A common stock and the selling stockholders are offering 241,233,615 shares of Class A common stock.

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