Facebook staff gears up for IPO with an all-night hackathon
Facebook employees at Hackathon 31 at its Menlo Park HQ. Image byFrancis Lou, product designer at Facebook
With Facebook’s IPO tantalisingly close, employees at the social networking site’s Menlo Park campus are in the midst of an all-night hackathon to code new programs.
Apparently hundreds of Facebook employees are pulling an all-nighter at Hacker Square on the Menlo Park HQ of the social networking site in California.
VentureBeat reports the Facebookers kicked off Hackathon 31 with a standing ovation for CEO Mark Zuckerberg at Menlo Park.
Zuckerberg will apparently be ringing the opening bell at Menlo Park today at 6.30am Pacific time, in tune with when Facebook begins trading on the NASDAQ today at 9.30am New York time.
Facebook has set the final price for its IPO today at US$38 a share. It means the flotation today will likely reap the social networking site between US$16bn and US$18bn.
In what could be the largest tech IPO ever, today's flotation is likely to value the social network at US$104bn.
Reports have been suggesting there are likely to be 1,000 people who will become overnight millionaires when Facebook begins trading today. The company will float on NASDAQ using the stock symbol 'FB'.
As for the hackathon over at Menlo Park, it kicked off at 7pm Pacific time and was open to employees only.
Here are a couple of photos of what's going down over there, geek-style. The photos are courtesy of product designer Francis Lou's Facebook page.