Facebook Surprises Some by Picking Nasdaq


It appears that shares of Facebook, when the social network goes public possibly later this year, will trade on an exchange often associated with tech stocks.

An unidentified "source familiar with the situation" has told Reuters that Facebook has selected the Nasdaq for its listing. The loser: the New York Stock Exchange.

The fees to list stock on the Nasdaq run between $35,000 and $99,500 a year, according to Reuters.

Facebook is preparing to raise $5 billion this year in what is expected to be one of the largest IPOs in recent times.

As of Dec. 31, 2011, the company had 845 million monthly active users, 483 million daily active users and more than 100 billion connections, according to a regulatory filing earlier this year.  

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