January 21, 2011
Facebook today announced it has raised U.S.$1.5 billion at a valuation of approximately $50 billion. This is not all news to us as we had reported the first signs of this deal earlier this month, but Facebook had not confirmed. The details of the deal are as follows:
“Goldman Sachs completed an oversubscribed offering to its non-U.S. clients in a fund that invested $1 billion in Facebook Class A common stock. In December, Digital Sky Technologies (DST), The Goldman Sachs Group, Inc., and funds managed by Goldman Sachs invested $500 million in Facebook Class A common stock at the same valuation.”
The money will be used to further bolster the largest social networks offering, though no immediate plans have been disclosed as to how they will spend the money. My guess, a Facebook jet is in the near future. Not as a social airline, though that would be pretty cool and would most likely give Virgin America a run for their money. Probably just a private corporate jet, so they can travel like Sergey and Larry. Oh, and expect Facebook to hire a thousand new employees or so, which may be a bit more practical than a jet, at this point.
What do you think Facebook should invest their money in? Let us know in the comments section below.
Image courtesy of cliff1066™.
Did you like this article?
Get more delivered to your inbox just like it!