Facebook nets $500m - report

2011-01-03 11:27
New York - A published report says social networking behemoth Facebook has raised $500m from Goldman Sachs and a Russian investment firm in a deal that values the company at $50bn.

The New York Times reported on Sunday in its online edition that Goldman invested $450m and Digital Sky Technologies invested $50m. The newspaper cited people involved in the transaction that it did not name.

The report said representatives for Facebook, Goldman and Digital Sky Technologies declined to comment.

The US Securities and Exchange Commission is reportedly looking into the booming trade in privately held shares of popular social networking sites because companies with 500 shareholders must disclose certain financial information to the public, even if they haven't filed for an initial public offering.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
Read more on:    facebook  |  social networks

linking and moving

2015-04-22 07:36

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

All Blacks batter brave Tonga
Byrne: Israel Folau a 'freak'
As it happened: New Zealand 47-9 Tonga
England World Cup coaches barred

The phrase for today is:”Out of the blue.” Expect the unexpected and work with the changeable energy. Your intuition is heightened...read more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.