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Monday
Jan032011

Report: Facebook Now Worth $50 Billion after Receiving Investments

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Photo Courtesy - Nicholas Kamm/AFP/Getty Images(NEW YORK) -- Facebook's value is now up to $50 billion after receiving two investments worth a combined total of $500 million, The New York Times reported Sunday night.

The social networking site received $450 million from global investment banking and securities firm, Goldman Sachs, and another $50 million from Russian investment firm, Digital Sky Technologies, the Times reported, citing people involved in the deal.

The investments put Facebook's worth at a higher value than Time Warner, Yahoo! and eBay.  They also could push the company towards going public.

Copyright 2011 ABC News Radio

DateMonday, January 3, 2011 at 11:43AM by AuthorJeanette Torres
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