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September 01, 2020 10:18am
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GSV Capital Buys Facebook Stock At $70 Billion Valuation; Its Own Stock Pops 21 Percent

Everyone is trying to get pre-IPO Facebook shares any way they can. Some investors purchase shares on secondary markets like SecondMarket and SharesPost. Others broker private sales. Today, GSV Capital , a publicly traded investment management company, announced that it has purchased a small number of shares (225,000) at a price ($29.28) which would give Facebook an implied $70 billion valuation. Although GSV Capital doesn't say, this most likely was a private sale. Facebook passed $70 billion on the secondary markets in January, and hit $85 billion in March. It's such a small number of shares and a single trade, so you can't make any generalizations about the implied market valuation of Facebook. What's more interesting is what the trade did for GSV's stock . It is trading up 21 percent this morning at $12.45.
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