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Facebook Now Valued at $23BN

Elevation Partners stock purchase triggers scary new calculation

According to Alexei Oreskovic of Reuters, the purchase of $120M in Facebook stock by Elevation Partners - a private equity firm whose partners include U2 frontman Bono - values the social networking company at a staggering $23BN.

Elevation Partners now has a 1.5% stake in Facebook.

According to the Reuters report, the firm had already purchased $90M worth of Facebook shares - based on a $9BN company valuation - back in November 2009.

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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