Facebook Valued More Than Russia’s Largest Oil Company
Investment firm General Atlantic is going to purchase 0.1 percent of world’s largest social network Facebook. The deal may push the price of the network up to $65 billion, but the transaction requires approval from Facebook at first. The company has been showing an impressive growth during the recent years. In the middle of 2009, the deals with its shares were concluded on the base of the company cost of $10 billion.
General Atlantic announced an intention to purchase the shares from several former Facebook employees. The deal has not been closed yet. According to CNBC, the deal boosted the cost of the social network 30 percent up. At the end of January of 2011, the company was valued at $50, when Goldman Sachs placed Facebook shares worth $1 billion among its clients, the Vedomosti wrote. (more…)