Public company buys Facebook stake


Been looking for a way to invest your money in Facebook? If you buy shares of GSV Capital approximately 15% of your investment is going into Facebook.

GSV, which trades on Nasdaq as GSVC, announced that it bought 225,000 shares of Facebook at $29.28 per share. Yes, there are shares of Facebook to be had, but only institutional investors have access to them, since they are not listed with the SEC for public trading.

GSV said it paid $6,587,500 for its Facebook stake, which represents approximately 15% of GSV’s total portfolio.

“Facebook is a one-of-a-kind business which has created enormous network effects. With over 650 million people on its platform, or approximately 1/10 of the world’s population, Facebook has established itself as a next generation social communications platform,” said GSV founder and CEO Michael T. Moe.

Announcement of the Facebook share acquisition on Monday (6/27) sent GSV’s stock price surging nearly 50% to a 52-week high of $15.35. The stock closed at $14.57.

Based on the price that GSV paid, Facebook is valued at $70 billion. Rumors have circulated for some time that the social networking company is preparing to launch an IPO which would make its shares available to ordinary investors.