02/02/2011

By David White, Managing Director, Weboptimiser

It looks like mercurial Facebook founder Mark Zuckerberg has used his critical film success to turn his firm Facebook into a hot investment property.

This latest round of investment that happened in early January values the world's most popular social networking site at about $50bn. At $50bn, Facebook would be worth more than eBay and Time Warner. Not bad for an actor on the world's stage...

About $1bn of the total came from overseas clients of Goldman Sachs, the Wall Street investment bank handling the share sale.

The remaining $500m came from Goldman itself, and Russia's Digital Sky Technologies who are listed on London’s stock exchange.

David Ebersman, Facebook's chief financial officer said "Our business continues to perform well and we are pleased to be able to bolster our cash position with this new financing."

"With this investment completed, we now have greater financial flexibility to explore whatever opportunities lie ahead.

Facebook is said to have "no immediate plans" for the proceeds from the fundraising, but would "continue investing to build and expand its operations".

It appears that it would begin filing public financial reports on 30 April next year.

Watch a video of David White talking about the latest Facebook News.

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