Facebook Stock Selling Below $15 Billion ValuationHeather Green
My colleague, Spence Ante, has a story about the hubbub over Facebook allowing employees to sell stock (first reported by Venture Beat.) According to Spencer’s reporting, a number of blocks of former and current employees have put up their shares for sale in recent months.
The prices for Facebook shares in these transactions are far below the $15 billion level. Laurence Albukerk, the founder and managing director of EB Exchange Funds, says two current directors and one former executive recently contacted him about selling some of their stock for a $5 billion valuation. He also says two investment firms have bought large chunks of Facebook stock at a valuation of about $3.75 billion. Hans Swildens, founder of a San Francisco firm called Industry Ventures that buys stock in private companies, says his firm has been talking with a growing number of Facebook employees. “There’s a lot of interest among people to sell shares,” says Swildens.
Facebook meantime announced this week that it’s stepping in and helping people sell shares, make some money, and quiet the internal rumbling at the company.