Whether you are in Silicon Valley or on Wall Street – or anywhere with a portfolio of shares and some money to spare – the hottest topic in investment has long been, when will Facebook float on the stock market? But for some rich individuals, and cast of brokers and other middlemen, there is no patience for finding out. They want a piece of Facebook now – and they're getting it. While the social networking site is firmly embedded in the culture, with more than 500 million users worldwide, its young founder, Mark Zuckerberg, is still trying to work out a way to generate profits commensurate with its social influence and with the huge financial hopes pinned on him.
Shares in the company have been given to only a small gaggle of employees, past and present, and to the firm's early venture capital backers, but that hasn't stopped a feeding frenzy in which they are changing hands at higher and higher valuations on private markets. In recent weeks, some stock has sold at a price that values the company at $41bn (£26bn), suggesting it is the No 3 most valuable internet business after Google and Amazon. (more)
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