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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.