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Tesla Motors Shares Trade on SharesPost

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It seems that Tesla Motors shares have begun trading on a members-only market called "SharesPost" for $10.00 per share.

SharesPost debuted late Monday, coming out of a private beta with an initial transaction of 2,500 shares of Tesla Motors at $10 per share. Tesla, dubbed the "poster child of green mobility" on a research report published for SharesPost subscribers, was valued just over $1 billion in the deal.
http://www.mercurynews.com/business/ci_12596601?nclick_check=1
 
I guess there must be about 100 million common shares of TM if a share price of $10 gives the company a value of " just over $1 billion ".

btw, thanks for fixing the link TEG. I tested the link in my post and it worked for me, but I know those Mercury News links can be a bit fickle sometimes.
 
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One beeeylllyyyunn dollars.

mike_myers_as_dr_evil_in_austin_powers.jpg

REPORT: Tesla Motors valued at $1 billion
 
High transaction fees on Sharespost for minimum purchases

There is a minimum transaction fee of $2500 for both buyer and seller to use US Bank as escrow, so even at a minimum transaction fee of $25,000, both buyer and seller are paying 10% transaction fees.