Facebook Inc. has picked Nasdaq over The New York Stock Exchange for its listing. This is seen as a major victory for Nasdaq over the NYSE, which already has wide portfolio of technology driven companies such as Linkedin Corp and Pandora media.
Facebook Inc’s listing will equate to a comparably small amount of money for the Nasdaq listing, but it will most certainly add to Nasdaq’s bragging rights. Facebook Inc will add to Nasdaq’s already considerable portfolio of tech-companies. Nasdaq already has companies listed such as Apple Inc and Google Inc.
Facebook is looking to raise and additional $5 billion or more from the IPO which is expected to start in May.
An IPO has been anticipated for years and is now whipping up into a frenzy comparable to the dot com go go days of the 90’s. The social network started out as a dorm room project from the now famous Harvard dropout, Mark Zuckerberg. It is now considered to be one of Silicon Valley’s top tier companies.
Listing fees for Nasdaq range from $35,000 to $99,5000 compared to the New York Stock Exchange, which ranges from $38,000 to $500,000.
In 2011, NYSE Euronext hosted 44% of technology initial public offers in the US and added 19 new listings to the market. The NYSE also ranked first in the world when considering IPO proceeds raised.