Facebook bolstered by $1.5b financing bounty

Facebook bolstered by $1.5b financing bounty
# 24 January 2011 08:59 (UTC +04:00)
Baku - APA-Economics. Facebook has raised $US1.5 billion in new financing led by Goldman Sachs, it announced on Friday, Sydney Morning Herald reported.

Investments include $US500 million from Goldman Sachs and the Russian investment firm Digital Sky Technologies, as well as $US1 billion from wealthy Goldman clients based overseas.

$US50 billion - more than the market values of Yahoo! and eBay. According to SharesPost, a private marketplace, the private shares of Facebook are trading at an implied value of $US76 billion.

Facebook said in a statement that while it had the opportunity to accept as much as $US1.5 billion from Goldman’s foreign clients - after US individuals were shut out of the offering - it chose to limit the amount.

’’While the offering was oversubscribed, Facebook made a business decision to limit the offering to $US1 billion,’’ the company said.
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