Discussion: On the night before their $16 billion dollar IPO, Facebook employees participated in its traditional 31st annual all night “hackathon”, instead of drinking champagne and celebrating. The only requirement is that employees work on a project that they would normally not do during their day job. The reward for the all night “hackathon” is a t-shirt, a well known status symbol at the company. Time will soon tell if the IPO will change the culture of the famously casual company; the $16 billion that the company raised probably will.
Source: CNN News
Date: May 18, 2012
- How does an IPO raise money for a company?
- How does an IPO change a company’s structure?