$100 Million in Facebook Stock Sold on “SecondMarket”

By on 05/26/2010 3:20 PM @beet_tv

SecondMarket, a new New York-based electronic market place for shares of privately-owned companies and other illiquid assets, has recorded $100 million in sales of Facebook shares over the past 12 months.

In this video interview, SecondMarket chief strategy officer Jeremy Smith says that there has been $250 million in transactions over the company's electronic trading system over the past 12 months and that Facebook shares comprise 40 percent of the activity.

The shares are sold to qualified investors.  In the case of Facebook, the sellers are ex-employees who seek liquidity.  Smith declined to disclose the present valuation.

We caught up with him yesterday at the TechCrunch Disrupt conference in Manhattan.

Andy Plesser, Executive Producer

Recent Videos
image
Video Ad Platform Jun Group Raises $28 Million In First Venture Round

The Jun Group, a New York-based video ad platform that places ads in custom video players on publisher sites and within mobile apps, has taken its first venture round since being formed in 2005, the company announced today. The company, founded in 205, has taken some debt financing and is profitable, CEO ...

image
Hearst CEO Swartz’ Career Advice: Follow Your Passion To The Top

Steven R. Swartz isn’t the only business reporter to make it big on the business side of reporting. Sequoia venture capitalist Michael Moritz wrote for Time magazine before making tech investments, for example. But he is one of the few to have risen to the very top of the company he has worked in for so ...

image
“It’s Going to Take a Village to Produce Creative”: Tribal’s Guest

CANNES — One consequence of the rise of data-driven marketing is brands creating tens of even hundreds of ads for various audience segments for a single campaign, not just two or three like in the old days. It’s “great from a sales perspective and not so great from a marketing cost perspective,” ...

image
Data is an “Enabler” of Creativity, JWT’s Jeffrey

When J. Walter Thompson’s Non-Executive Chairman Bob Jeffrey got his start in advertising, it was normal for agencies to present a single TV spot to prospective clients in order to prove their credentials. For example, at Chiat/Day, where he worked early in his career, they showed the “1984” Apple ...

image
Addressable TV will Provide Unprecedented Granularity, SMG’s Scheppach

CANNES — So-called “addressable TV”, in which TV sets can now speak back to broadcasters, are tantalizing with the promise of household-level ad targeting. But addressable TV is not just about more refined TV targeting – the device in the living room is one platform that will feed ...

image
Careers in AdTech Will be Powered by Digital Transformation, AOL CEO Tim Armstrong

Less than 10 percent of e-commerce and advertising is powered digitally —  but that will inevitably change. And the looming transformation will provides a twenty to thirty-year “tailwind” for the entire adtech and media industry which will mean vast opportunities for young people ...

image
Big Changes in the Values of Brands Powered by Geography and Technology, Sir Martin Sorrell

In the past 10 years, since the WPP-owned global brand consultancy Millward Brown has tracked the value of brands with its BRANDZ 100 rankings, there have been many changes.  Over that period, nearly half of the companies have changed.  This upheaval  has been powered by two major factors:  geography and ...

terence kawaja
Addressable TV Advertising is Changing the “Lumascape,” Banker Kawaja

CANNES – As addressable TV advertising emerges, so are a number of companies including Visible World (recently bought by Comcast), Clypd, Simulmedia and others.  For the new medium to succeed, one essential will be companies that focus on yield management around addressable TV, says investment banker ...

image
A “Whole New World” of Video Advertising Coming to Comcast/NBCU, Driven by Set-top Data

CANNES – Comcast’s data from its twenty millions set-top boxes, coupled with marketers’ first party data, will create a “whole new world” for NBC Universal, for both advertising and content creation, explains Linda Yaccarino, Chairman, Advertising Sales and Client Partnerships ...

image
WPP’s Sorrell Wants Nikkei To Make FT More Ad-Friendly

It was a WPP agency that devised The Financial Times’ once-famous marketing slogan, “No FT, no comment.” So, what does WPP CEO Sir Martin Sorrell think of Pearson’s sale of its newspaper to Japan’s Nikkei for £844m ($1.3bn) this week? Speaking with Beet.TV in this video ...

image
Millennials Will Transform the Way Agencies Work: JWT’s Jeffrey

When considering setbacks over the course of his career, J. Walter Thompson’s Non-Executive Chairman Bob Jeffrey thinks of losing accounts, which he always took “very personally and emotionally.” In particular, he remembers when the agency lost most of its Microsoft business. “That was very painful ...

image
JWT’s Mirum Brings “Deeper Technology Expertise”

CANNES – “I think what clients are looking for from agencies now is a partner that helps them navigate,” says Lyle Tick, chief growth officer for J. Walter Thompson. “And that’s a lot of what we’ve been doing at J. Walter is restructuring ourselves in order to deliver those types of ...

loader