Business, Economics and Jobs

Facebook’s Zuckerberg won’t ring Nasdaq bell for IPO


Facebook founder and CEO Mark Zuckerberg at a News conference in October 2010.


Justin Sullivan

Facebook CEO Mark Zuckerberg will not be ringing Nasdaq’s opening bell in New York when the company goes public Friday, according to the Wall Street Journal.

Zuckerberg, Chief Operating Officer Sheryl Sandberg and most of the staff will celebrate at Facebook's Menlo Park, Calif., headquarters. Some senior Facebook executives will be in New York but the main party will be in Silicon Valley.

More from GlobalPost: Facebook IPO date set for May 18

It is not uncommon for tech companies to forgo the bell ritual on an opening day IPO; Social games maker Zynga went public in December, CEO Mark Pincus rang his own bell at their San Francisco office.

Meanwhile, Facebook is set to close the books on its massive initial public offering Tuesday, since the IPO is already oversubscribed, CNBC reported.

CNET reported it is the first time many of Facebook's 3,000 employees will get an opportunity to see some real wealth, although they won't be able to sell the stock for 180 days.

Facebook is set to begin trading under ticker “FB” in a deal that could value the company as high as $96 billion, according to CNBC.