Facebook to Grow Richer This Year!

Investment firm, General Atlantic is the latest one to invest  in the social networking heavyweight, Facebook. This investment would enhance the value of Facebook to $65 billion, as against its previous value enhancement of $50 billion in January, last year.

Richer, popular..

Richer, popular..



As per a CNBC report, General Atlantic is purchasing roughly 2.5 million Facebook shares from former Facebook employees, giving the firm a 0.1 percent stake in the company. Although the deal awaits approval from Facebook, General Atlantic is expected to 0.1 percent stake in Facebook, says the same report.

This is Facebook's second large investment post - January last year. Facebook had then raised $1.5 billion from investors including Goldman Sachs and Digital Sky Technologies, as well as through a private offering to overseas investors conducted by Goldman Sachs, at a valuation of roughly $50 billion.

Facebook is touted as the leading social networking platform with a user base of over 500 million. 

Published Date: Mar 04, 2011 01:01 pm | Updated Date: Mar 04, 2011 01:01 pm