Facebook Shares Hit $50 On SecondMarket

Michael Arrington

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

Wednesday, April 14th, 2010

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 a reinvented stock market. We provide products and services that enable companies, community banks, student loan issuers and funds to manage liquidity, raise capital and communicate with key stakeholders. A Better Market… We’re empowering entrepreneurs by reinventing the modern stock market and redefining the modern company. We’re enabling companies to manage liquidity, communicate with key stakeholders and raise capital through products that give control to companies, not to Wall Street. We’re changing the market,...

→ Learn more

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

Facebook is the world’s largest social network, with over 1 billion 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...

→ Learn more

blog comments powered by Disqus