According to an inside source a group of Facebook shareholders are looking to sell $1 billion worth of shares on the secondary market. The sale would mean that the company would be revalued at more than $70 billion.
The deal will be one of the largest in the history of Facebook. It comes after concerns from shareholders that Facebook cannot sustain its growth. Initially the group attempted to sell at a rate that would have left the company to be valued at $90 million.
The deal still has t be approved by top executives including CEO Mark Zuckerberg.