Who Needs A Public Market When Facebook Shares Are This Liquid?

If you are a shareholder of Facebook shares, you have a lot of opportunities to resell them. Shares of the company have surged over the past couple years thanks to the private markets like SecondMarket, Second Shares, and private deals taking place behind closed doors. The latest liquidity opportunities included a reported transaction by Accel Partners, previously the largest venture shareholder, and now a new fund used to help Facebook Employees exercise stock options. With so many options to purchase shares, one has to wonder what the needs is for an IPO.