Facebook Investors Looking to Dump Shares


Is a social-networking bubble developing? Some Facebook investors seem to be thinking so.

A group of investors in the Palo Alto-based company are reportedly trying to sell off about $1 billion worth of shares on the secondary market.

This isn't the first time the group has tried to sell Facebook shares as well. The current share dump would put Facebook's value at $70 billion.

Previously the group had tried to sell enough shares at a price that would have valued the company at $90 billion.

Any transaction would have to first be approved by the company's executive board.

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