Tuesday, July 26, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
OLED to Become Leading Smartphone Display Technology
Softbank's Pepper Robot Now Available In Taiwa
Samsung Wireless Charging Pads Support Charging Of Multiple Devices At once
Apple's Car project To Be Led By Veteran Bob Mansfield
Twitter Live Streaming To Include MLB Games, NHL Games and Nightly Highlights Program
iPhone 7 Rumored To Launch September 16th
Viber Now Available On All Windows 10 Devices
Verizon Buys Yahoo's Core Business For $4.83 billion
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Faceboo...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, January 24, 2011
Facebook Raises $1.5 Billion


Facebook today announced that it has received $1 Billion from Goldman Sachs. Digital Sky Technologies and Goldman Sachs also recently made $500 million direct investment, resulting to an overall value of Facebook at $50 billion.

The world's No. 1 social network said that the transaction consisted of two parts. Today, Goldman Sachs completed an oversubscribed offering to its non-U.S. clients in a fund that invested $1 billion in Facebook Class A common stock. In December, Digital Sky Technologies (DST), The Goldman Sachs Group, Inc., and funds managed by Goldman Sachs invested $500 million in Facebook Class A common stock at the same valuation.

"Our business continues to perform well, and we are pleased to be able to bolster our cash position with this new financing," said David Ebersman, Facebook?s chief financial officer. "With this investment completed, we now have greater financial flexibility to explore whatever opportunities lie ahead."

DST and Goldman Sachs approached Facebook to express their interest in making an investment, and Facebook considerd the move as "an attractive opportunity to bolster its cash reserves and increase its financial flexibility with limited dilution to existing shareholders."

Under the transaction's terms, Facebook had the option to accept between $375 million and $1.5 billion from the Goldman Sachs overseas offering, at the discretion of Facebook. While the offering was oversubscribed, Facebook made a business decision to limit the offering to $1 billion.

"There are no immediate plans for these funds. Facebook will continue investing to build and expand its operations," Facebook said in a statement.

United States securities regulations require companies with more than 499 shareholders to disclose financial information whether they are publicly traded or not. Facebook expects to exceed that number some time this year.

Facebook, founded in a Harvard dorm room in 2004, said it would begin to file public financial reports no later than April 30, 2012, in a statement detailing the new investment.

Facebook has more than 500 million users and is challenging big Web businesses like Google and Yahoo for users' time online and for advertising dollars.

Investors are increasingly eager to buy shares of Facebook and other fast-growing Internet social networking companies on private exchanges.


Previous
Next
Apple's App Store Downloads Top 10 Billion        All News        AMD to Offer OpenGL 4.1 Support on Microsoft Windows and Linux Platforms In Latest Driver Release
Music Unlimited powered by Qriocity Expands Globally     General Computing News      BitTorrent Creator Introduces Live Streaming Protocol That May Challenge Youtube

Get RSS feed Easy Print E-Mail this Message

Related News
Facebook's Aquila Maiden Flight Is A Reality
Facebook's Messenger Hits 1 billion Users
Messenger Starts Testing Encryption With Secret Conversations
IRS Probes Facebook
Facebook Tries To Explain The Algorithm Behind News
Facebook To Add Media Content, Celebrity News For Live Srervice: WSJ
Facebook App Arrives on Windows 10
Facebook Messenger Makes It Easier to Start Conversations
Facebook Forces Users Install The Moments app
Facebook Now Supports 360-degree Photos
Facebook: We Don't Listen To Your Calls To Offer Targetted Ads
Facebook Publishers To Show Ads To Everyone

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .