BREAKING NEWS

Report says Facebook nets $500 million investment

By ASSOCIATED PRESS

JANUARY 3, 2011 10:46

Social networking behemoth Facebook has raised $500 million from Goldman Sachs and a Russian investment firm in a deal that values the company at $50 billion, The New York Times reported.

Goldman invested $450 million and Digital Sky Technologies invested $50 million, the newspaper reported Sunday in its online edition, citing people involved in the transaction that it did not name. Goldman has the right to sell part of its stake, up to $75 million, to the Russian firm.

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