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Facebook Now Valued at $23BN

Elevation Partners stock purchase triggers scary new calculation
By Jeremy Geelan
Article Rating:
June 30, 2010 08:15 AM EDT
Reads:
 7,568

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.

Published June 30, 2010 – Reads 7,568
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Jeremy Geelan is President & COO of Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences both in North America and overseas. He is executive producer and presenter of Cloud Expo's "Power Panels" on SYS-CON.TV.

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