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Facebook Raises $500 Million From Goldman Sachs, Digital Sky: Report

Social network Facebook has raised $500 million at a valuation of $50 billion, from Goldman Sachs and Digital Sky Technologies, reports the New York Times, quoting unnamed sources. According to the story, Goldman Sachs is putting in $450 million, while the Russian investor Digital Sky Technologies, which had previously invested $200 million in Facebook in May 2009, is making a follow on investment of $50 million. At that time, the 1.96% stake picked up by Digital Sky had valued Facebook at $10 billion; this round of investment indicates a five fold increase in the valuation of the social network. With this, the total round of funding that Facebook has raised goes up to $1.35 billion: Facebook had previously raised $850 million, according to Crunchbase. Facebook is believed to be earning close to $2 billion a year, more than doubling year…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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