• Facebook Shares Hit $50 On SecondMarket

    Wednesday, April 14th, 2010

    J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995) and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

    facebooklogo2.gifFacebook shares just keep going up on SecondMarket, a platform for buying and selling private company stock. Sales are now being closed at $50/share, we’ve heard from a source (and we’ve confirmed that the best asking price is also $50/share). That values Facebook at around $22.5 billion.

    That’s a 100% increase since January, just a couple of months ago.

    Part of the quick increase may be due to tightening supply. Current Facebook employees are no longer allowed to sell stock, we’ve heard but have not confirmed, due to possible securities laws violations. If that’s accurate, and it makes sense, it can partially explain the bubble like price increase in Facebook stock.

    Company: SecondMarket
    Website: SecondMarket.com
    Launch Date: 2004
    Funding: $34.2M

    SecondMarket is the leading marketplace for alternative investments. It has become the online destination for building your investor network, discovering interesting investment opportunities, and transacting in assets such as private venture-backed companies and private community banks, fixed income products, public equity and bankruptcy claims. SecondMarket 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 100,000 individuals and institutions and completed billions of dollars in...

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    Company: Facebook
    Website: facebook.com
    Launch Date: February 1, 2004
    IPO: NASDAQ:FB

    Facebook is the world’s largest social network, with over 845 million monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...

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