Feeds

Facebook tagged with $60bn valuation

Price soars as social network mulls $1bn staff share sale

Beginner's guide to SSL certificates

Facebook is considering allowing its staff to sell up to $1bn of their shares to institutional investors, after the company got slapped with a $60bn valuation.

According to All Things Digital, which cites sources close to the situation, Facebook's estimated valuation rocketed another $10bn yesterday.

Brokerage Goldman Sachs had previously tagged a $50bn price tag on the Mark Zuckerberg-run social network, after some of its wealthy clients pumped $1.5bn into an investment round for the firm.

Privately held Facebook recently went on record to say it would seek an initial public offering (IPO) no later than the end of April 2012.

The company keeps a short leash on its current employees regarding selling their shares in the business on private exchanges. In 2009 it offloaded $100m of common shares from its staff in a deal with Russian investment outfit Digital Sky Technologies.

In early January, it was reported that Facebook pulled in $1.2bn in revenue over the first nine months of 2010. The company's net income during the first nine months of last year was said to have reached $355 million.

However, until Facebook – which has more than 500 million users worldwide – goes public, its actual earnings remain private and investors can't freely scrutinise how well the finances, or indeed the $60bn valuation, will hold up. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.