Facebook Raises Another $500M

1/4/11

In a move that could further prolong its days as a private company, Facebook is adding $500 million to its war chest in a fundraising effort coordinated by Goldman Sachs Group and Russian investment group Digital Sky Technologies, according to a report today from Dow Jones VentureWire. The new agreement sets the Palo Alto-CA-based social networking giant’s value at $50 billion, the report said.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @

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