"Facebook Employee Sale Would Value It at $60 Billion, WSJ Says"
At these prices employees are just unloading the shares when they are sky high so the suckers buy them at this prices, nothing guarantees how facebook will get profitable in the next 5 years to justify this type of valuation. Myspace had its peak peak of 75.9 million users in December 2008 - and it is worth next to nothing now so News Corp can not even sell it....
"Facebook Inc. may allow employees to sell as much as $1 billion of shares in an offering that would place the company’s value at $60 billion, the Wall Street Journal reported on its All Things Digital blog, citing unidentified people close to the situation.
The social-networking company wants to give employees a chance to sell shares because an initial public offering isn’t likely for at least a year, All Things Digital said."