Breaking News: Facebook Clears At $40 Per Share On SecondMarket; I Talk To A Facebook Employee
Shares cleared at $40 on SecondMarket, a record high ($93.3 billion valuation). At the same time, volume was at a record low–20,000 shares. Consider that last week, volume was over 170,000 shares. There is simply a huge demand from buyers and not much supply from sellers. There were bids for 13 million shares vs. 2 million shares offered.
For fun, I talked to a Facebook employee who is actively selling his shares:
“I have two friends right now who at $40 a share would be willing to sell. For me personally, I’m not going to do a deal until I see something around $40.
“I have not worked at Facebook in more than five years. I can’t speculate on the business any more than you could. I have friends there. I think it’s the greatest product. And I use it all the time both for my business and my personal life. I think that dislodging Facebook would be a very tall order for anybody… even Google… because we all have our lives up there. I know a lot of executives there who are incredibly smart people.
“The reality is that I’m taking the bulk of my Facebook shares and I’m holding them through the IPO because I believe. And I think most of my friends are as well. We’re just looking for a little bit of diversification before we… we’re going to be locked up six to nine months after the IPO. So we’re just trying to take a little bit off the table just to be smart.
“I don’t know if Mark Zuckerberg’s control position is a negative for the company. I mean, ultimately the market will be the judge of that… But so far, having that sort of governance has worked out quite well for the company.”
Why would you want anybody except Mark Zuckerberg running Facebook? This kid is a savant of sorts. He’s long-term greedy and I like that.
because we all have our lives up there.
That’s pathetic.
I find Facebook vaguely gay.