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

AlexC04 · on March 7, 2011

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

danvoell · on March 5, 2011

http://www.secondmarket.com

AlexC04 · on March 5, 2011

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 · on March 5, 2011

you just have to lie and say you're accredited.

AlexC04 · on March 7, 2011

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.

nerd_in_rage · on March 8, 2011

well, try it and find out.

frankydp · on March 5, 2011

US citizens are not elidgable. Offering was not FTC sanctioned.