Facebook Valued at $50 Billion After $500 Million Investment

By CIOinsight

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.

For more, read the eWeek article: Facebook Worth $50B from $500M Funding Round.

This article was originally published on 01-03-2011