Palo Alto, CA-based social network Facebook has raised U.S.$1.5bn at a valuation of approximately $50bn.
According to the company, the transaction consisted of two parts:
– Goldman Sachs completed an offering to non-U.S. clients in a fund that invested $1bn in Facebook Class A common stock.
– Digital Sky Technologies (DST), The Goldman Sachs Group, Inc., and funds managed by Goldman Sachs invested $500m in Facebook Class A common stock at the same
valuation.
Facebook also said that there aren’t immediate plans for these funds and that the company will continue investing to build and expand its operations. Anyways, David Ebersman, Facebook’s CFO, stated that the completion of the investment gives the company “greater financial flexibility to explore whatever opportunities lie ahead”.
Facebook intends to start filing public financial reports no later than April 30, 2012.
FinSMEs
24/01/2011