The clamor for Facebook shares in the lead-up the initial public stock offering has officially reached a fevered pitch.
One Silicon Valley executive has put out a news release with an unusual offer: He’s willing to trade his 10,000-square-foot home on an 11-acre private park in Los Gatos for a stake in the social networking giant.
Silicon Valley has been bracing for a real estate boom with more than 1,000 Facebook employees expected to become stock-option millionaires. But Kenneth Raasch doesn't want cash. Raasch, who took Media Arts Group Inc. public in 1994, is asking $29 million in Facebook stock for the property, which has six bedrooms, a guest apartment and more than 7,000 square feet, according to a report in the Silicon Valley / San Jose Business Journal.
There has been a run on Facebook shares on the private markets, lifting Facebook's value to $100 billion.
“I’ve never seen a company that’s so transformative,” Raasch said. “I’d love to get in on it. I want to be a part of it.”