Facebook Lands 500,000,000 New Friends

By RJ Middleton
|  Monday, Jan 3, 2011  |  Updated 1:10 PM PDT
View Comments (
)
|
Email
|
Print
Facebook Lands 500,000,000 New Friends

Getty Images

Facebook co-founder and CEO Mark Zuckerberg was all smiles at the recent f8 conference, but college anecdotes reveal an entitled prick.

Starting off the new year just like everyone hopes they will: with an extra $500,000,000.

Facebook has landed an enormous investment from savvy finanical firm Goldman Sachs and another investor, according to the Wall Street Journal.

And just what will Mark Zuckerberg do with the new-found cash? Well, he won't report to a board of directors or shareholders, as the company remains closely held -- making the investment that much more extraordinary.

In the past, though, private money has pressured other tech giants Microsoft and Google to go public. 

The influx, based on a $50 billion valuation, will allow for FB to pursue more talent (from a brain-draining Google?) and/or look into acquisitions.

In addition to Goldman's money, the sum of $450,000,000, the Russian investment firm Digital Sky Technologies added $50,000,00, according to people involved in the talks.

Funny how $50M gets you a mention in the last paragraph of a story, huh?

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out