Transactions of private-company stock on SecondMarket nearly doubled in March, rising to $70 million from $43.8 million in February. It is the highest amount that has ever been traded on SecondMarket. The stats are in its March report, which you can download here.
A full 41% of the transactions were sales of Facebook stock, compared to 48% in January. We’ve reported that these sales are being completed for as high as $40 per share (or a $17.6 billion valuation). Despite the demand, Facebook CEO Mark Zuckerberg does not appear to be in any rush to take the company public.
MedeAnalytics, a healthcare performance analytics company, saw 14% of the transactions, LinkedIn took 10% of the transactions, with Zynga taking 7% of the sales, and Twitter and LifeLock each taking 4% of the total. eSolar, Slide, Kayak, and Serious Materials were also seeing transactions in March. The transactions concentrated mainly in consumer products and services (72%), media and entertainment (14%) and IT services (14%).
In terms of unmet bids, Facebook led the way with one-third of all buyside demand followed by Twitter (6%), LinkedIn (5%) and CraigsList (4%). On the seller side, ex-employees of start-ups continue to make up the bulk of parties who are selling shares, but the percentage of current employees and investors selling shares rose slightly in March.
SecondMarket is the marketplace for alternative investments. It has become the online destination for accessing market data, building your investor network and transacting in assets such as private company stock, structured products, public equity and bankruptcy claims. SecondMarket centralizes and simplifies secondary market activity by connecting buyers and sellers, and providing world-class market and operations expertise. Since 2004, SecondMarket has brought together more than 75,000 individuals and institutions and completed billions of dollars in alternative investment transactions. SecondMarket is...
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