The value of Facebook has dropped to $82.25 billion based on the latest private share auction on SharesPost, where Facebook closed at $32.10 apiece.
That assumes that the social network still has 2.5 billion shares outstanding.
Some might feel tempted to misconstrue this latest transaction as reflecting Facebook users’ unhappiness in response to last week’s changes in the site’s functionality.
However, Facebook shares had already fallen a bit from peak value well before last week’s changes to the site; more relevant, however: prior user backlashes haven’t had any negative effect on the shares’ value in the private marketplace.
The prior two Facebook auctions had closed at $33 per share on SharesPost, valuing the company at $82.5 billion, down from a high of $87.5 billion.
Much more likely: These most recent transactions show a healthy correction in Facebook shares that could help stabilize the company’s value in private markets for some time to come.
That said, below you’ll see what SharesPost said about the auction in an email to members; please let us know what you think Facebook stock should be worth by posting in the comments section beneath this post.
We are writing SharesPost members like you who indicated they would like to occasionally receive news from SharesPost.
SharesPost’s affiliated broker-dealer completed its auction of 50,000 shares of the Class B Common Stock of Facebook, Inc. on September 26th. A clearing price of $32.10 was established at the auction. Members submitting Qualifying Bids at or above the clearing price will be contacted shortly with instructions on next steps for completing this transaction.
SharesPost members who wish to be informed of and be eligible to participate in future auctions of private company securities must first be qualified by our affiliated broker-dealer as an accredited investor under the securities laws. To get qualified, please click on the green button below. We look forward to serving you at SharesPost in the future.
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