Yes, private companies do have shares. They just do not trade publicly. Therefore valuation is different and more difficult. Basically what investors will pay for shares when they make a private placement into the private company. Read this: https://www.investopedia.com/ask/answers/09/how-to-value-shares-in-private-company.asp At the time of the proposed Now withdrawn) 2015 IPO, Albertson's had 409.8 million shares issued. See http://www.nasdaq.com/markets/ipos/company/albertsons-companies-inc-970028-78908