Friday 22 September 2023

Goldman 'values Facebook at $50 billion'

New York, January 3, 2011

Facebook has raised $500 million from Goldman Sachs and Russian Internet investment group  Digital Sky Technologies in a deal valuing the social  networking site at $50 billion, the New York Times reported.

Goldman has invested $450 million and Digital Sky  Technologies, which has already invested about half a billion  dollars in Facebook, put in an additional $50 million, the  paper said.     

Facebook and Digital Sky Technologies could not be reached  for comment. Goldman was not available for comment outside  regular US business hours.     

Goldman is planning to create a special purpose vehicle to  allow its high-net worth clients to invest in Facebook, the  paper reported.

It has the right to sell a part of its stake, up to $75  million, to Digital Sky Technologies, the paper said. - Reuters

Tags: Goldman | facebook | Social networking | Digital Sky |


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