What Happens To The Secondary Markets When Facebook IPOs And Their Hype Machine Goes Away?

SecondMarket CEO Barry Silbert

Facebook stock sales make up about 45% of all private company stock trading on SecondMarket, the $250 million online marketplace for trading illiquid assets, PR boss Mark Murphy tells us.

The next closest companies are LinkedIn and Twitter at a combined 25%, followed by Zynga.

So what happens when Facebook IPOs in 2012?

Murphy isn’t worried.

“There will always be a new hot company that comes along,” he says.

The other reason to be optimistic about a soft fallout is that while private company stock trading is Second Market’s fastest growing sector, it only makes upĀ  20% of total revenue.

Still, the Facebook hole is going to be a big one. SecondMarket works with 35 private companies and completed more than $400 million in private company stock transactions last year. Remember, Murphy told us Facebook transactions made up 45% of that figure.

We imagine SharesPost, a Second Market competitor, has to be worried about losing Facebook next year, too.

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