Ex-Facebook employee says 'firm believes in celebrating new ideas, not money'

Washington, May 19 (ANI): A former Facebook employee has said that the social networking giant does not believes in showing off money, and instead has a culture of celebrating new ideas and creating new products.

Remarks by Justin Mitchell, a former Facebook engineer, came shortly after the firm priced its flotation at 38 dollars a share, valuing the company at 104 billion dollars.

He had been with the company for more than four years, but had recently quit, taking stock options with him.

When asked that since all Facebook employees are stock holders, why 'isn't he out buying a Ferrari', Mitchell replied that 'its not the company culture to go out and celebrate this type of stuff.'

"The culture of the company is very much of not showing off money, not being ostentatious but instead, really just making good products, and that comes from the top," ABC News quoted Mitchell, as saying.

He also stressed that Facebook's IPO filing is likely to have little effect on how it does business.

"My hunch is that it's not going to change the company culture that much," the report quoted Mitchell, as csaying.

"Once we filed for the IPO people put up signs that said, 'Stay focused, Keep shipping.' I think it's that type of mentality that you'll see continue on in the future," he added. (ANI)