Facebook raises $1b from non-US investors

Associated Press / January 22, 2011

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NEW YORK — Facebook said yesterday it has raised $1 billion from non-US investors, which combined with an infusion from Goldman Sachs and Russia’s Digital Sky Technologies in December, brings the haul from its latest round of funding to $1.5 billion.

The investments value the social networking site at $50 billion, more than the current market values of Yahoo Inc. or eBay Inc., but below those of Inc. and Google Inc.

Facebook did not say how it plans to spend the $1.5 billion.

The company had the option to raise up to $1.5 billion from non-US investors through Goldman, but limited the offering to $1 billion. Spokesman Jonny Thaw declined to comment further on the decision to limit the offering, which was oversubscribed — meaning more people wanted in than got in.

Earlier this week, Goldman said it was barring US investors from taking part in the Facebook offering, citing widespread media coverage that could have violated securities guidelines.