Facebook is the biggest social network around with a huge numbers of people that use it each day. Facebook completed a new round of financing last week with Goldman Sachs with an offering to non-US clients for a total of $1 billion in purchases of Class A common stock.
When the new $1 billion in investment is added to the $500 million raised recently, Facebook has acquired $1.5 billion in new financing the last few months. The new investment raises the valuation of Facebook to $50 billion.
It’s interesting that Facebook didn’t seek the new round of financing, Goldman Sachs approached Facebook and offered to invest and Facebook to the chance to bolster cash reserves, $1 billion is a serious bolster and might signal that Facebook is ready to start buying. However, Facebook has stated it has no plans to use the funds right now. The social network is expected to move past the 500 shareholder mark by April 30, 2012 and be required to file public financial reports at that time.