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Goldman, Digital Sky Investment Values Facebook At $50B

Goldman, Digital Sky Investment Values Facebook At $50B: Report

January 03, 2011 / 02:14 PM IST

Facebook has raised $500 million from Goldman Sachs and Russian Internet investment group Digital Sky Technologies in a deal valuing the social networking site at $50 billion, the New York Times reported citing people involved in the transaction.

Goldman has invested $450 million and Digital Sky Technologies, which has already invested about half a billion dollars in Facebook, put in an additional $50 million, the paper said.

Facebook and Digital Sky Technologies could not be reached for comment. Goldman was not available for comment outside regular U.S. business hours.

Goldman is planning to create a special purpose vehicle to allow its high-net worth clients to invest in Facebook, the paper reported.

It has the right to sell a part of its stake, up to $75 million, to Digital Sky Technologies, the paper said.

By: Madhav Chanchani