Facebook Insiders Try To Sell $1 Billion Block of Shares

Money - dollars

Apparently there is a limit to Facebook’s rising valuation: Reuters (NYSE: TRI) cites five sources who say that a group of Facebook employees and early investors is trying to unload $1 billion worth of the company’s shares. They apparently tried to sell the shares at a price that valued the company at $90 billion but are now trying to sell the stock at a $70 billion valuation. That’s still well above the $50 billion valuation put on the social network when it raised money from Goldman Sachs and Digital Sky Technologies in January, but it represents a 40 percent, not 80 percent increase, in four months.

The Reuters story does not say who is selling, but AlleyInsider reported last month that co-founder Eduardo Saverin had sold $500 million of the company’s stock. VC firm Accel Partners was also reportedly unloading some of its holdings in Facebook earlier this fall. We’ve reached out to Facebook for comment and will update if we hear anything back.

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