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The king of all social networking sites, Facebook has successfully raised more than $1.5 billion if financial rounds held under Goldman Sachs Group Inc. Facebook could have received more than $2 billion if it has continued the highly responsive financial rounds.
In December 2010 Goldman Sachs along with Russian firm Digital Sky Technologies successfully raised $500 million which brought the value of Facebook to $50 billion. This was announced by Facebook in a statement. Now Goldman Sachs has led the social networking site to an oversubscribed offering. This was offered to Goldman Sachs non united States customers. The transactions gave Facebook to accept between $1.5 billion and $375 million of overseas subscribing from Goldman Sachs. The decision to curb the investment to $ 1 billion was made by Facebook as a business decision.
Facebook is working on expansion of its services and to penetrate into new markets that will help utilize its more than 500 million users. This is the reason Facebook is suddenly interested in filling up its cash reserves and have a sense of flexibility.
Facebook was announced to have more page visits in 2010 than Google. Which in terms of internet space is a huge accomplishment and has to be acknowledged by everyone in this area. It recent statistics suggest that more than 60% of the users visit their Facebook profile every day. More than 40% of its users are in the age group of 18 to 24. This is a major accomplishment which pulls a lot of attention. Google has been struggling to curb the rise of Facebook and is taking all steps necessary to start a competitor. Recent valuation of Facebook at $50 billion again prove the point that Facebook is trusted by the investors who have put million into the social network to get in the game.