Facebook Insiders Cash Shares In, Pre-IPO Hackathon, New Apps

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The additional shares available on IPO that Facebook revealed later yesterday actually won't make Facebook itself any cash--they are actually being sold by existing insider shareholders. This may have raised a few eyebrows in the financial world because selling a stake like this at launch could indicate a lack of long-term confidence in a company's future...although the fact that the offer price has risen from earlier estimates is more likely the driving factor. Meanwhile it's been reported to TechCrunch that a traditional all-nighter Hackathon at Facebook HQ will precede the IPO, ending with the remote-ringing of the Nasdaq bell. And as the last hours before IPO dribble away, Facebook issued an iPhone app designed to help users who utilize Facebook to promote a brand or and event manage their Pages with ease while mobile.

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