Goldman deal values Facebook at $50bn

Amplify’d from www.ft.com

Goldman deal values Facebook at $50bn

Facebook has raised $500m of an anticipated $2bn in new funding from Goldman Sachs and other investors in a deal that values the dominant social network at around $50bn.

That valuation implies Facebook is now worth more than Time Warner or Yahoo and almost twice as much as Google at the time of its 2004 initial public offering. It is also almost double the amount indicated by private sales of Facebook stock on secondary markets just five months ago.

People involved in the deal said on Monday that Goldman was providing $375m and Russia’s
Digital Sky Technologies $125m. Goldman has also formed a special fund to raise an additional $1.5bn from outside investors, these people said.

Goldman’s decision to invest its own funds in Facebook underlines its determination to continue to pursue lucrative private equity investments despite new regulations aimed at limiting banks’ use of their balance sheets.

Read more at www.ft.com

 

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