Facebook’s early investors likely to sell shares worth billion dollarsApril 28th, 2011 - 6:40 pm ICT by ANI
London, Apr 28(ANI): A group of Facebook shareholders reportedly want to sell the company’s private stock worth a billion dollars with a valuation of over 70 billion dollars.
According to The Daily Mail, the sale would represent one of the largest transactions of Facebook shares to date.
The current deal is awaiting approval from top Facebook executives such as CEO Mark Zuckerberg and Chief Financial Officer David Ebersman.
The most recently disclosed investment in the Palo Alto social networking giant was by mutual fund company T. Rowe Price which said it bought shares at 25 dollars and a valuation of 50 billion dollars.
Facebook was created at Harvard University in 2004 and rocketed to become the world’s number one social networking website with over 500 million members worldwide. (ANI)
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