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Shvoong Home>Business & Finance>Technology - Operations Management>http://www.indianexpress.com/news/facebook-is-now-worth-50bn/740896/ Review

http://www.indianexpress.com/news/facebook-is-now-worth-50bn/740896/

Website Review   by:subir    
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Facebook is now worth $50bn
Social networking is the norm of the day establishing this trend a must do thing everyday at least by the young generation. Not only the developed countries; the developing nations too have come under its wrap in a big way. Some poor nations are still to step into this trend, which will happen soon, I believe. I do not know how many social networking sites are in the world arena; but I do know some that are immensely popular such Twitter, Facebook Myspace, etc. in terms registered members which one is going to take the top of the big list is one question, but in terms of investment, Facebook is said to be the most popular social networking site in the world. Goldman Sachs have invested one billion dollar; and 500 million dollars by Russia’s Digital Sky Technology and Goldman itself making a total of 1.5 billion dollars of investment in Facebook recently. The total net-worth of Facebook is assessed at 50 billion dollars, the highest among all networking sites.
What David Ebersman, the CFO of the company said is an obvious one that reads “Our business continues t perform well and we are pleased to be able to bolster our cash position with this new financing”, quoted BBC. A company is healthy if its cash reserve is high and it can think of advancing in existing operation and in new areas. Deliberations are on for utilizing this huge fund in future endeavors.
The company will start filing public financial reports on 30 April this year, added the CFO.
Published: January 22, 2011   
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