Saturday, January 31, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
AT&T, Verizon Among Winners Of US Airwaves Auction
Apple Closes the Gap on Samsung Fourth Quarter's Worldwide Smartphone Shipments
Verizon To Let USers Opt Out Supercookies
Microsoft Outlines Windows 10 Options For The Enterprise
Jolla Tablet Returns to Indiegogo With A 64GB Version
BT Sees Ultrafast Broadband Not Coming Earlier Than 2025
Google To Change Privacy Policy After UK's Watchdog Investigation
HDDs Shipments Increased In 2014
Active Discussions
Why Double Logins ?
retrieving burned cd information
Writing Audio files on DVDs ?
Need major help with Gigabeat
New match-3 puzzle game launch now!
Rimage 2000i
Sound card for my Laptop
hello
 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 Introduces Place Tips in News Feed
Facebook Reports Strong Fourth Quarter
Facebook Intros Trending Super Bowl
Internet Problems Temporarily Took Down Facebook, Instagram
Facebook To Limit Fake News Stories
Deloitte Report Says That Facebook Adds More Than $200 billion to Global Economy
Facebook Seeks To Advance Its Virtual Reality Business
Facebook Steps Into The Office
Facebook Introduces AMBER Alerts
Facebook Buys QuickFire
Facebook And Android Top Digital Trends For 2014
Dutch Privacy Watchdog Probes Facebook

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .