04 Mar '11, 2am

Facebook valued at $82 billion in new investment (via ST iPhone App)

Facebook valued at $82 billion in new investment (via ST iPhone App)

General Atlantic is purchasing a block of roughly 2.5 million Facebook shares from former Facebook employees, giving the firm a 0.1 per cent stake in the company, CNBC said. -- PHOTO: AP SAN FRANCISCO - INVESTMENT firm General Atlantic is investing in Facebook, valuing the leading social network at US$65 billion (S$82.4 million), representing a 30 per cent boost from its last big investment in January, according to a report on CNBC. General Atlantic is purchasing a block of roughly 2.5 million Facebook shares from former Facebook employees, giving the firm a 0.1 per cent stake in the company, CNBC said. The deal, which has not closed and requires approval from Facebook, would give General Atlantic a 0.1 per cent stake in Facebook, according to the report. General Atlantic declined to comment on the reports. Facebook did not immediately return requests for comment. -- REUTERS

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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