Facebook Inc.’s implied value dropped 5 percent to about $93 billion in the auction of a fund that holds shares of the social-networking company’s stock.
The sale yesterday set a price of $40 apiece for 125,000 units of the fund, according to an e-mailed statement from SharesPost Inc., which managed the auction. A Feb. 14 fund auction valued Facebook at about $98 billion.
Facebook, which filed for an initial public offering on Feb. 1, is said to seek a valuation of as high as $100 billion. The implied valuation based on private-market transactions may change depending on the actual share count after the IPO.
Jonathan Thaw, a spokesman for Menlo Park, California-based Facebook, declined to comment on the auction.
San Bruno, California-based SharesPost, which lets investors trade shares of companies before they go public, estimates Facebook has 2.33 billion shares outstanding, including stock tied to options that may be issued.