Facebook worth $50billlion

| 04/01/2011

(FT.com): Facebook has raised $500m of an anticipated $2bn in new funding from Goldman Sachs and other investors in a deal that values the dominant social network at around $50bn. That valuation implies Facebook is now worth more than Time Warner or Yahoo and almost twice as much as Google at the time of its 2004 initial public offering. It is also almost double the amount indicated by private sales of Facebook stock on secondary markets just five months ago. Goldman has formed a special fund to raise an additional $1.5bn from outside investors, people involved in the deal said. With an estimated 24 per cent stake in the company, the founder 26-year-old Mark Zuckerberg will have a paper fortune of $12bn.

Go to article

Print Friendly, PDF & Email

Category: Business

About the Author ()

Comments are closed.