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Facebook Valued at $50 Billion After $500 Million Investment

By CIOinsight  |  Posted 01-03-2011 Print
Facebook banked $500 million in funding from Goldman Sachs and Digital Sky, inflating its war chest to challenge Google for a greater Web audience.

Facebook CEO Mark Zuckerberg regularly downplays talk of an IPO, but his social network company has achieved the scale, and now the funding, of a company to warrant it.

Facebook has reportedly banked $500 million from Goldman Sachs and Digital Sky Technologies, valuing the company at $50 billion, according to The New York Times.

Goldman has plunked down $450 million. Russia-based Digital Sky, which has already pumped $500 million into Facebook, chipped in the remaining $50 million.

Facebook spokesperson Larry Yu declined to confirm the funding, which makes the social network worth more than Yahoo and eBay, in an e-mail to eWEEK Jan. 3.


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