Facebook raises USD 1.5 billion

Nieuws Breedband Wereld 24 JAN 2011
Facebook raises USD 1.5 billion
Facebook has raised USD 1.5 billion from investors in a private share offering that valued the social network at USD 50 billion. CFO David Ebersman said in a statement the business continues to perform well, and the management are pleased to be able to bolster the firm's cash position with this new financing. With this investment completed, he said the company now has greater financial flexibility to explore whatever opportunities lie ahead. Goldman Sachs completed the oversubscribed offering to its non-US clients in a fund that invested USD 1 billion in Facebook Class A common stock. Digital Sky Technologies, the Goldman Sachs Group and funds managed by Goldman Sachs meanwhile invested USD 500 million in Facebook Class A common stock at the same USD 50 billion valuation. Facebook also said it expected to surpass 500 shareholders sometime this year and would start filing public financial reports no later than 30 April 2012. said it had "no immediate plans" for the newly raised funds.

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Internet

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Facebook

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Messaging, Portals / social media, Financial funding

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