Facebook has confirmed a $1bn (£627.3m) investment from Goldman Sachs Overseas Offering, valuing it at $50bn (£31.4bn).

The investment came from non-US clients as media coverage meant further funding could breach US security laws (nma.co.uk 18 January 2011).

Earlier this month Facebook received initial investment from Goldman Sachs of $450m (£289m) and $50m (£32.2m) from Russian internet investment firm Digital Sky Technologies (nma.co.uk 4 January 2011).

David Ebersman, Facebook’s chief financial officer, said, “Our business continues to perform well and we’re pleased to bolster our cash position. With this investment completed, we now have greater financial flexibility to explore whatever opportunities lie ahead.”

Facebook said it had no immediate plans for the funding but would use it to expand its operations.

Before the latest investment, Facebook had expected to pass 500 shareholders in 2011 and now said it expected to start filing public financial reports no later than April 2012.


Published 24 January, 2011 by NMA Staff

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