Secondary stock market service Sharespost has sold 165,000 shares of Facebook for $25 each. When you extrapolate this price across Facebook stock, it values the company at $56 billion. Sharespost said that the auction was “significantly oversubscribed.”
Some of the reasons why Facebook’s valuation is being hyped right now because the company is said to hit $2 billion in revenues this year. Some very successful businesses like Zynga and Playdom are also being built on top of Facebook. Groupon and group-coupon clones are spending a lot on Facebook advertising as well.