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