Feeds

Just 0.2% of Facebook flogged for $133m

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

Top 5 reasons to deploy VMware with Tegile

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. ®

Internet Security Threat Report 2014

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
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.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.