Sharespost is a company that lets private investor's trade shares of companies before they go public. The company, Sharespost, managed the auction of 125,000 units of fund, each unit equivalent to one Facebook share, at a price of USD 42 apiece.
The auction assumes that the social network still has 2.5 billion shares outstanding including stock tied to options that may be issued.
Earlier on February 8, Sharespost had auctioned 150,000 shares of Facebook's class B common stock at a price of USD 44 and valued the company at USD 102.6 billion. With the latest sale, the value has come down to USD 92.9 billion. The current valuations are based on private-market transactions and in all probability could change depending on the actual share count after the IPO.
Earlier in February, Facebook had filed for an IPO worth USD 5 billion and were looking at a sale that would value the company at around USD 100 billion.
Dion Global Solutions Ltd