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|Investors Put $1.5 Billion Into Facebook|
| 1:59 pm on Jan 24, 2011 (gmt 0)|
Investors Put $1.5 Billion Into Facebook [bbc.co.uk]
|Facebook has said it has raised $1.5bn (£900m) from investors, valuing the world's most popular social networking site at about $50bn. |
About $1bn of the total came from overseas clients of Goldman Sachs, the Wall Street investment bank handling the share sale.
The remaining $500m came from Goldman itself, and Russia's Digital Sky Technologies.
Facebook said it could have raised more money from the oversubscribed offer.
"Our business continues to perform well and we are pleased to be able to bolster our cash position with this new financing," said David Ebersman, Facebook's chief financial officer.
| 5:03 pm on Jan 27, 2011 (gmt 0)|
This is pretty crazy sounding! Is FaceBook a public stock now?
| 5:22 pm on Jan 27, 2011 (gmt 0)|
|This is pretty crazy sounding! Is FaceBook a public stock now? |
It will be, then all the initial investors will eventually sell because the stock will likely be highly overvalued.
| 5:49 pm on Jan 27, 2011 (gmt 0)|
|Is FaceBook a public stock now? |
No, still pre-IPO. Amazing really. I suspect they'll get forced public by regulators. It's currently heading to become the Worlds largest ever private company.
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