Goldman Sachs Part Of New $500 Million Facebook Investment
January 3, 2011 at 7:02 AM (PT)
GOLDMAN SACHS and a Russian investor have sunk $500 million into FACEBOOK, reports THE NEW YORK TIMES. The deal "values the company at $50 billion, according to people involved in the transaction. The deal makes FACEBOOK now worth more than companies like eBAY, YAHOO and TIME WARNER."
WALL STREET insiders see the new money giving FACEBOOK the ability "to steal away valuable employees, develop new products and possibly pursue acquisitions -- all without being a publicly traded company." Whether this puts pressure on FACEBOOK to go public is the subject of numerous rumors.
Internet companies are once again hot in the stock market. The SECURITIES AND EXCHANGE COMMISSION has begun an inquiry into new interest these companies, including FACEBOOK, TWITTER, the gaming site ZYNGA and LINKEDIN.