According to a whole bunch of reports, Facebook is supposed to IPO at a valuation around $75 billion.

Investors on secondary markets think that's low.

One hundred thousand Facebook shares just sold for $40 a pop in a secondary market auction on SharesPost, according to an email sent out by SharesPost. 

This comes after months of Facebook shares trading at $35 with little fluctuation.

The $40 share price implies a $94 billion valuation for Facebook.

Facebook filed for an IPO earlier this week. Shares are expected to be trading on public markets in May. 

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