SecondMarket has a standard policy about disclosing the prices at which companies trade on its private market exchange: They remain private under wraps until after the company in question goes public.
For example, when LinkedIn (LNKD) went public earlier this year, SecondMarket immediately disclosed data from the prior 12 months of private trading activity in LinkedIn shares.
We had expected to see the same thing today for Groupon (GRPN), which last night raised $700 million in its IPO. But it’s not going to happen.
As was previously reported, SecondMarket offered Groupon IPO shares to select clients via a partnership with Morgan Stanley. And apparently that means that SecondMarket is now legally prohibited from commenting on the daily deals company (or from even providing comment for this post).
Word is that Groupon shares weren’t heavily traded on SecondMarket — at least when compared to LinkedIn or Facebook — but that private trades had come in both above and below the $11 billion valuation that Groupon had been expected to secure. I’m not sure if there were any sales above the $12.65 billion valuation it ultimately received. Unfortunately, it looks like we won’t get specifics for a while, assuming SecondMarket gets to take off its muzzle once the post-IPO quiet period concludes.
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