Facebook Confirms $1.5 Billion Fundraising
Palo Alto-based Facebook confirmed its $1.5 billion fundraising Friday, saying that the funding valued the firm at approximately $50 billion. Facebook said the funding included an offering by Goldman Sachs to its non-U.S. clients, investing $1 billion in Facebook Class A common stock. In addition, Digital Sky Technolgoies (DST), The Goldman Sachs Group, and funds managed by Goldman Sachs invested $500M at the same valuation. Facebook said the move would bolster its cash reserves and increase its financial flexibility. The funding had already been widely reported.
posted on Friday, January 21, 2011
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