He’s not taking off the hoodie, and he’s not going to NYC. TechCrunch has learned and confirmed that Facebook will IPO on Friday with CEO Mark Zuckerberg ringing the NASDAQ bell remotely from his company’s new Menlo Park headquarters. This follows the trend of companies like Zynga who also rung the IPO bell from home base rather than New York. CNBC tweeted the news this morning and we’ve verified this with another source close to the IPO proceedings.
Some investors worry about Facebook’s ability to earn revenue on mobile as more users migrate away from its classic web interface. But now Bloomberg reports that Facebook will cease taking orders for shares tomorrow and that the IPO will be massively oversubscribed, despite citing underwhelming demand from investors a few days ago. Wall Street pros aside, national fervor over the popular social network’s entrance into the public market has amateur investors pleading with their brokers to get them stock.
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