Forget the SharesPost auction that started before Facebook's IPO filing and left Facebook with an implied valuation of $94 billion. That's old news. Yesterday, another auction closed and left Facebook with a record $102 billion valuation.
It looks like Facebook's IPO numbers are still having an impact. The share price has jumped to $44. Doing some basic math, this means the auction gave Facebook an implied valuation of $102.3 billion, assuming some 2.33 billion outstanding shares. That's right; we're finally in the 12 digits for unofficial Facebook valuations.
For a while now, employees and early stakeholders have been selling shares privately on SecondMarket and SharesPost. Most of these have been in the valuation range of $80 billion (only one was in the $90 billion range), although there have also been auction failures. The second market is different, but nevertheless, it still gives you a good idea if a company's valuation is decreasing or increasing.
Here's the relevant part of the e-mail SharesPost sent out regarding the auction:
SharesPost Financial Corporation completed its auction of 150,000 shares of the Class B Common Stock of Facebook, Inc. on February 8, 2012. A clearing price of $44.00 per share was established at the auction.
Facebook has now finally surpassed the $100 billion mark it has been projected to be worth. At this rate, Facebook is also expected to create more than 1,000 new millionaires (will your friend be one of them?).
It's key to remember that we won't know what the company's actual valuation is until right before the offering is made, which typically occurs about three months after the company files for its IPO. Indeed, the latest rumor slates May 2012 as the expected timeframe for Facebook going public. Facebook will likely restrict transactions as the date of the public offering nears.
- Facebook's IPO in pictures
- How much is Facebook worth?
- Facebook's IPO by the numbers
- Facebook files for $5 billion IPO
- Mark Zuckerberg was planning to sell Facebook in July 2004
- Warning: beware of Facebook IPO scams