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New investor pays $70 billions for Facebook
2011-06-28
GSV Capital invests in Facebook and the social-networking service is costed at US$70 bill. The value of the planet's biggest social network Facebook was guestimated at seventy bill bucks Monday when investment firm GSV Capital climbed on board the Facebook train. Facebook has sold about 6.6 million bucks worth of its private shares to the California investment fund and is thought to be preparing for a preliminary public offering in 2012, Bloomberg fiscal reports service reported. "Facebook is an one-off business that has made large network effects," announced Michael T Moe, GSV CEO. "With over 650 million folk on its platform, or roughly 1/10 of the planet's population, Facebook has made a name for itself as a new generation social communications platform." The investment is thought to equal about fifteen % of the portfolio of in public traded GSV. Facebook shares aren't yet in public traded, but the stock on occasion comes available when workers sell their stock. When Goldman Sachs invested in Facebook early on in the year, the network's worth was put at fifty bn. greenbacks.
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