Social networking giant Facebook valued at $50billion
By Michael Shai
Jan 4, 2011 - 11:43:48 AM
Digital socialising platform Facebook has acquired a substantial sum of investment taking the company’s value to more that $50bn (£32.2bn).
New York Times reports states, Goldman Sachs has endowed $450m (£289m) in the social networking website whereas Russian internet investment business Digital Sky Technologies invested a further $50m to Facebook’s account.
But Financial Times report show, Goldman Sachs invested $375m (£240.8m) which is the cumulative total of the part investment made by Digital Sky at $75m (£48.2m).
This huge investment from the two investors has given a huge value to Facebook in the market which could now be more that the value of EBay, Yahoo and media biggie Time Warner.
These acquired funds are projected to be invested by Facebook to support product development and indulge in further acquisitions which have invariably caused conjecture about a possible listing.
At the end of 2010, Facebook EMEA head of international business Christian Hernandez showed that how effective the ad campaigns are on the virtual social networking platform and how this could be further strengthened by upraising its European staff and also taking the Preferred Developer Programme a step further in order to aid the agencies and developers create stronger ad campaigns.
Hernandez further added that the digital company are vying for a larger employee base for their European division and significantly also take more interest in developer events and meetings; an example of which could be Facebook Developers Garage.
And for the latest happenings with Facebook in this New Year, the social networking site is ready to launch its location based marketing programme; Facebook Deals in the UK. This was initiated in the US with Gap and McDonald as the two prime launch associates for the voucher service that commenced in November.
These Facebook deals shall encompasses four offers; discounts to individuals, charities and giving schemes, loyalty schemes and social schemes under which, the reward system for the group procurement and suggestion will be provided eminence.
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