Wednesday 6 July 2011
Facebook Now Valued at $65 Billion
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Social media giant Facebook is going higher and higher in terms of its worth and value. A recent report by major investment and financial firm states that, Facebook value has jumped to $65 billion from $50 billion.
A report on a leading channel states that General Atlantic is buying 0.1% of the corporation. Facebook’s new valuation is based on the value of that stake, according to the article, which quotes “people with knowledge of the transaction.â€
The deal is in progress and required buying roughly 2.5 million shares from former Facebook employees. In early January, reports made the rounds that Facebook was worth $50 billion after Goldman Sachs and Russian investment firm Digital Sky Technologies invested $50 million in the company. General Atlantic’s other investments include Gilt Groupe and Alibaba.
This post was written by: Franklin Manuel
Franklin Manuel is a professional blogger, web designer and front end web developer. Follow him on Twitter
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