Frothy Facebook Valuation Deters Investors
Shareholders struggling to unload $1 billion in stock
Apprehensive about Facebook’s impending IPO, some shareholders are now trying to cash out their shares of the social-networking company’s stock, the New York Post reports.
A group of Facebook employees and investors tried to unload $1 billion in stock at a $90 billion valuation, but potential buyers weren’t biting. Now, the shareholders are awaiting approval from Facebook to pursue the deal at a valuation of $70 billion, the high end of where Facebook has traded on private exchanges.
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