The day after LinkedIn’s IPO plans were revealed to the world, a positive sign has been released from pre-IPO secondary market SharesPost. In an email shared with SocialTimes, the company has announced the completion of a LinkedIn shares auction. Investors purchased 95,500 shares of LinkedIn common stock at a clearing price of $30.79 per share.
According to the email, “The response of the SharesPost community to the auction was substantial and the auction was significantly oversubscribed.”
SharesPost has more than 50,000 members, according to an email released earlier this month, and has provided an active platform for trading shares in private white-hot social media companies, including Facebook, Twitter, Digg and others.
This is the second big auction for SharesPost this year. The last one, in Facebook shares, resulted in a 10.4 percent valuation increase in only a month (since mid-December last year), on 362,035 traded – a volume increase of close to 120 percent!
While SharesPost valuations aren’t necessarily indicative of how a company will perform in public capital markets, the last auction in LinkedIn shares in this market resulted in a valuation of $2 billion, making it one of five social media companies valued at above $1 billion.