Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

SecondMarket to Make Up for Facebook Volume By Adding Companies

Jan. 25 (Bloomberg) -- SecondMarket Inc., the private shares marketplace, will make up for the volume it loses when Facebook Inc. goes public by adding to the companies whose shares it handles, Chief Executive Officer Barry Silbert said.

SecondMarket, based in New York, completed more than $558 million in transactions last year, according to a statement last week.

Facebook, the world’s biggest social-networking site, is examining a $10 billion offering that would value it at more than $100 billion, a person with knowledge of the matter said in November. The company has accounted for “a meaningful portion” of the private stock trading on SecondMarket, Silbert said, so when it goes public that volume will disappear.

“For 2012, we’re excited there is a growing number of companies that have come to appreciate the value of having a secondary market for the stock,” Silbert said today at the World Economic Forum’s annual meeting in Davos, Switzerland. SecondMarket is focused on about 200 companies, with a goal of adding as many of these as possible in the next couple of years.

“It won’t take many of the 200 to make up for Facebook,” he said.

Silbert added that while SecondMarket’s attention for the next 12 months will be on U.S. companies, there are opportunities elsewhere.

“We’re looking very closely in China,” Silbert said.

He also said he’s intrigued by companies in Israel and Europe.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net.

To contact the editors responsible for this story: To contact the editor responsible for this story: John Fraher at jfraher@bloomberg.net; Jennifer Sondag at jsondag@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.