Monday, January 3, 2011

New "Friends" for Facebook

Posted By on Mon, Jan 3, 2011 at 10:31 AM

The Social Network, currently showing at The Flicks in Boise, has made just about every Top-10 list of the nation's critics. Producers may be anxious to start working on a sequel considering Monday's headlines.

In a blockbuster deal, Facebook has partnered with Goldman Sachs and a Russian investor that values the social networking site at $50 billion. That would make Facebook worth more than eBay, Yahoo or Time Warner.

The New York Times reports a $500 million cash infusion will give Facebook more firepower to steal away valuable employees, develop new products and possibly pursue acquisitions—all without being a publicly traded company.

The new investment comes as the Securities and Exchange Commission launches an investigation into investments into social network sites, including Facebook and Twitter.

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