Wednesday, April 4, 2012

How Much is Facebook Worth?

CNBC, 4/3/2012, "Is Facebook Really Worth $135 Billion?" By Julia Boorsti

隨著  Facebook 上市的腳步越來越近,接下來關於他們的評價的新聞會越來越多。

CNBC 這篇報導裡面提到昨天的一個 conference call 對於 Facebook 的價格的討論。在 2/1 Facebook 向 SEC 遞交 registration statement 後由於有一段 waiting period,所以我們已經好一陣子沒有聽到 Facebook 公開對外發表談話了,他們在這段時間內是不被允許對外宣傳的。昨天的 conference call 裡提到目前 Facebook 的未公開市場交易價格大約是 $40,相當於公司市值 $100 bn 左右。早先認為合理的市值在 $75 bn 到 $100 bn 之間,現在有人認為他們值 $133 bn,換算成每股價格約略是 $56。

上市之後股票的流動性會比現在更好,本來就可以讓價格再往上漲一些。在內部員工還不能賣手上股票之前,有可能因為供給不足而使價格飆的更高。我本來的猜測是 Morgan Stanley 他們可能會用每股接近 $40 但小於這個數字的價格來 IPO,然後在交易日當天應該很有可能衝到 $50。接下來看看其他人的評估如何,我早先的猜測若是跟這篇報告一比還低估了。

1 comment:

Ben said...

With the emergence of secondary markets like secondmarket and sharepost, a lot of FB's "values" have already been realized. Google is around $210 Billion right now with 9X FB's revenue. It is a good thing that these social networking companies actually have revenues and earnings instead of just eyeballs:)

The truth is I have no idea what FB is worth. The smart-ass reply would have been - whatever the next guy or gal is willing to pay for it....

And before there was FB and Google, two bright Stanford Computer Science PhD students started an revolutionary Internet search company called Yahoo, which is today a fragment of its former self. RIP Yahoo.