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????過去幾年，世間確定無疑的只有三件事：死亡、稅收和Facebook不斷增長的估值。不過，現(xiàn)在我們恐怕不得不回到前面老二樣上去了。 ????上周五晚些時(shí)候，研究機(jī)構(gòu)PrivCo發(fā)布報(bào)告指出，近來，在二級(jí)私募市場，F(xiàn)acebook的市值出現(xiàn)了前所未有的持續(xù)下滑。 ????PrivCo將數(shù)據(jù)劃分為每兩周為一個(gè)階段，結(jié)果顯示Facebook在6份和7月的部分時(shí)間里表現(xiàn)良好，成交價(jià)為35美元每股，整個(gè)公司估值將近840億美元。股價(jià)在7月29日時(shí)下滑到34美元每股，隨后到報(bào)告截止日期即8月16日，又下滑到33美元每股。總的來說，F(xiàn)acebook估值跌回2011年3月時(shí)的792億美元。顯然這個(gè)市值不可等閑視之，但從變化趨勢來看，F(xiàn)acebook明年可能無法達(dá)到1,000億美元的首次公開募股（IPO）估值目標(biāo)（基于私募市場交易股價(jià)通常為上市股價(jià)的20-30%的假設(shè)）。 ????PrivCo首席執(zhí)行官山姆?哈邁德表示：“事實(shí)上，投資者們還不如在2月份時(shí)購買短期國債，這樣風(fēng)險(xiǎn)小得多而且也能保證完全流動(dòng)性?！?/p> ????PrivCo.com運(yùn)營部副總裁約瑟夫?蘭澤貝奇補(bǔ)充說：“從近期二級(jí)市場不斷下跌的股價(jià)來看，熟悉Facebook內(nèi)部業(yè)務(wù)趨勢的靈通人士顯然更愿意拋售股票?！?/p> ????PrivCo認(rèn)為Facebook近期股價(jià)下跌與谷歌（Google）的競爭有關(guān)，后者最近啟動(dòng)了Google+服務(wù)，而且Facebook用戶普遍患上“Facebook疲勞綜合癥”也是原因之一。Facebook層出不窮的隱私問題同樣不容小覷，按計(jì)劃，該公司稱周五會(huì)發(fā)布新的安全策略。 ????譯者：項(xiàng)航 |
????For the past several years, there have been three things you could count on: Death, taxes and Facebook gaining in value. Now we might have to return to the old standbys. ????Facebook recently suffered its first-ever consecutive decline in valuation on the private secondary markets, according to a report being released later today by research firm PrivCo. ????The data is broken out into two-week periods, and shows that Facebook spent the better part of June and July trading at $35 per share, for a company valuation of approximately $84 billion. That price fell on July 29 to $34 per share and then to $33 per share for the period ending August 16. Overall, that brings Facebook back to its March 2011 valuation of $79.2 billion. Obviously nothing to sneeze at, but also not the sort of direction that should give Facebook total confidence in a $100 billion IPO value next year (based on assumption that private markets typically trade at a 20-30% discount to public comps). ????"In effect, investors would have been better off buying a treasury bill in February with a small fraction of the risk and total liquidity," says PrivCo CEO Sam Hamadeh. ????Joseph Ranzenbach, vice president of operations at PrivCo.com, adds: "Insiders, who know better than anyone what the internal business trends are, have are clearly now more willing sellers as reflected by the recent consecutive stock price drop in secondary markets." ????PrivCo attributes the recent drop to competition from Google, which recently launched its Google+ service, and general "Facebook fatigue" among users. There also are the social network's continuing privacy issues, which it plans to address today by rolling out new security controls. |
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