Feeds

Just 0.2% of Facebook flogged for $133m

Means it's worth 20% of Apple ... or ALL of HP

Internet Security Threat Report 2014

Ad firm Interpublic has sold half its stake in Facebook for $133m.

The firm's stake was 0.4 per cent, so the sale gives an apparent value for the whole social network of $66.5bn.

The deal was done back in 2006, when Facebook needed revenue and respect. Interpublic agreed to spend $10m of its clients' money on advertising on the site and in exchange was allowed to buy a 0.4 per cent stake for less than $5m, the FT reports. Interpublic brands include McCann Erickson and Lowe + Partners; the firm turned over $6.5m last year.

Interpublic's statement did not reveal who had bought the stake but the pink paper said it was not Facebook itself – which has first refusal in such deals.

The ad company said it would pocket $132m from the deal.

Chief executive Michael I Roth said: "Interpublic formed a strategic relationship with Facebook in 2006 ... Facebook has since become a part of daily life for hundreds of millions of people around the world. Its ubiquity has meant the strategic value of our initial investment has moderated, while the financial value of that stake appreciated significantly."

Interpublic's full statement is here. The company will use the cash to buy back its own shares. ®

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
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 ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
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.