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

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

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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