- Reuters, Thursday, April 28, 2011 11:42 AM
On the secondary market, some Facebook shareholders are seeking to unload $1 billion worth of shares at a valuation of $70 billion. So says Reuters, citing five sources. Staggering though the valuation may seem, it's actually an indication to some that Facebook's growth isn't limitless. If the deal comes to pass, "It would represent one of the largest transactions of Facebook shares to date and points to a growing wariness among early-stage investors and employees who fear Facebook's growth cannot keep pace with its market valuation," Reuters writes.
"The sellers have lowered their price after previously trying to offload shares at a price that valued the company at $90 billion." The deal, which includes stock held by Facebook employees, awaits approval from top Facebook executives including Chief Executive Mark Zuckerberg and Chief Financial Officer David Ebersman, sources say. Investors, including venture capital firms and investment banks, were recently falling over each other to invest in Facebook in anticipation of a likely IPO.
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