Feeds

Facebook tagged with $60bn valuation

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

Choosing a cloud hosting partner with confidence

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. ®

Security for virtualized datacentres

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
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
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.