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Ask HN: How would an individual investor buy Facebook shares?

2 points by AlexC04 ↗ HN
So I've just had a bit of an epiphany or flash of understanding with respect to why Facebook is worth the current $75M and IMO could be worth significantly more.

I see the posts that say that they are trading somehow, but everything I've seen requires a trade of 10,000 shares (at $30 each).

I can' afford that, but I'd happily bet my current available life savings of a few thousand dollars.

How does an individual investor make that purchase? Or do I really have to be in a position to put $300k into Facebook if I want to be able to hop on for the ride?

8 comments

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danvoell
http://www.secondmarket.com
AlexC04
Sadly, it seems to use their interface you've got to be Accredited. (I've logged in and tried)

So I can't actually buy stock in their system.

It's not quite as easy as popping on and plunking in a credit card number. Not that shares are like that in real markets either, but it's actually a little more manageable.

Apart from a link to the service, Shares Post being another one (http://www.sharespost.com/companies/facebook). I've also popped on to SharesPost but it's also 'pending approval'

How does a layman go about buying "what he can afford" in terms of Facebook shares?

nerd_in_rage
you just have to lie and say you're accredited.
AlexC04
Hmm... and when they check your credentials? I'm not sure it's as easy as getting around the age-verification on porn sites (are you 18? yes / no)

Maybe there are investment conglomerates out there - or group buy in / mutual clubs where I can put in a share of the money towards the actual facebook purchase.

[deleted]
(comment deleted)
frankydp
US citizens are not elidgable. Offering was not FTC sanctioned.
AlexC04
FYI - I just got an email back from Shares Post.

| Unfortunately all investors must be accredited investors

| as defined by the SEC in order to participate.

| Thanks,

| Team SharesPost

| On Mon, Mar 7, 2011 at 11:09 AM, SharesPost <no-reply@sharespost.com> wrote:

And apparently the SEC definition is here: http://www.sec.gov/answers/accred.htm