Facebook’s plans to allow employees to sell some of their shares received such a bad reception that the company had to abandon it altogether. Apparently investors were willing to acquire the stocks at a price that puts facebook’s total valuation far lower than $4 billion. However that setback has not hindered Mark Zuckerberg from trying to raise $240 million for the company at a valuation of over $15 billion:
We discussed Facebook fundraising issues and valuation. He [Zuckerberg] said some of the speculation was true and some wasn’t. he confirmed that Facebook’s $15 billion valuation round was still open and that CFO Gideon Yu was open to new investors at that price. But he denied that Facebook was pitching for new money at a lower valuation. “We’re not actively going around trying to raise money from a lot of different people. It’s more just a follow on to that [previous round].”
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[...] it had to go along by buying the shares. Now Facebook had been flying high when it was valued at a staggering $15 billion before the economic collapse that brought its valuation roughly between $4 billion to [...]