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Facebook Insiders May Limit IPO

Company already has more than 1,000 shareholders, valuation over $100 billion.

By Brian Womack and Lee Spears, Bloomberg | Updated on February 23, 2012

Facebook Inc. is already trading like a public company as insiders and wealthy investors use private marketplaces to buy and sell stock in the social-networking company ahead of its initial offering.

The shareholder base has grown to more than 1,000, compared with the 50 to 100 investors most companies have when they go public, according to an estimate by Sam Hamadeh, head of research firm PrivCo. Private purchases pushed Facebook’s valuation past $100 billion this month, possibly limiting immediate gains for IPO investors, given that Facebook may seek a $75 billion to $100 billion value.

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