In February, Facebook announced it’s long awaited plans to go public. But in the early wave of reports, it wasn’t clear which exchange would feature shares of the hugely popular social networking company.
And that’s only because Facebook hadn’t yet decided.
Today, that mystery has been solved. According to CNBC, Facebook’s “FB” stock will list on the Nasdaq when the company officially goes public in May.
The listing decision marks the end of a tense and drawn out courting process between the company and numerous executives at the NYSE and rival Nasdaq. Both exchanges launched aggressive marketing campaigns to woo the multi-billion dollar listing, and have made numerous pitches to the company in recent months.
So what made Facebook finally select the Nasdaq? According to CNBC’s Kayla Tausche and Jesse Bergman, the decision “was seen by many observers as a choice of branding and image. The NYSE is widely seen as the home of the traditional ‘blue chip’ company while the Nasdaq’s reputation is more associated with Silicon Valley.”
We will bring you more details as this breaking story develops further.
