Facebook said on Friday that it had raised $1.5bn in a two-part transaction.
Mark Zuckerberg's company has raised $1.5bn and earned a valuation of $50bn. Photo credit: James Martin/CNET News
The $1.5bn (£940m) investment puts the company's value at about $50bn. In a statement, Facebook's chief financial officer David Ebersman said the investment from Goldman Sachs and Digital Sky Technologies gives the company "greater financial flexibility to explore whatever opportunities lie ahead" but, for now, the company has no immediate plans for it.
Facebook said it expects to pass 500 shareholders at some point this year and, therefore, expects to start filing public financial reports no later than 30 April, 2012. There is a 500-shareholder rule in place as part of the Securities Exchange Act, which means that Facebook would be required to disclose more financial information.
For more on this ZDNet UK-selected story, see Facebook raises $1.5 billion, puts value at $50 billion on ZDNet.com.
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