The Facebook Secondary

I have an icy-cold blast of reality thrown from a bucket over at Fortune Magazine today…

In this piece, I make the case that Facebook is already a de facto public company, having done a secret IPO  – not through any fault of its own but as a result of the modern marketplace.

Check it out:

Facebook already went public, you weren’t invited

Facebook has ample access to capital and it’s traded more shares per month than hundreds of Nasdaq-listed companies. Indeed, the de facto Facebook IPO happened long ago.

By Joshua Brown, contributor

FORTUNE — On February 1, Facebook at long last filed its official S-1 document with the SEC, the first step toward an initial public offering (IPO) the company expects to do in the second quarter of this year. Despite the fact that it was widely anticipated, the financial media went absolutely bananas. Facebook was the only subject on television, the radio, the web and in the paper. For a week.

But lost in all of this saliva-covered enthusiasm was the fact that Facebook’s de facto IPO had already occurred a long time ago. Yes, Facebook already went public, you just weren’t invited.

Keep reading:

Facebook already went public, you weren’t invited (Fortune)

chart above via my friend @aronpinson



This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. immediate edge review commented on Sep 13

    … [Trackback]

    […] Read More here to that Topic: […]

  2. 사설토토 commented on Oct 17

    … [Trackback]

    […] Find More Information here to that Topic: […]

  3. 사설토토 commented on Dec 16

    … [Trackback]

    […] Find More to that Topic: […]

  4. replica rolex commented on Dec 17

    … [Trackback]

    […] Read More to that Topic: […]

  5. replica rolex commented on Dec 30

    … [Trackback]

    […] Info to that Topic: […]

  6. see it here commented on Feb 03

    … [Trackback]

    […] Read More on that Topic: […]