Facebook Now Worth $70 Billion

Facebook’s market value is 70.3 billion US dollars based on a recent investment.

Facebook founder and CEO Mark Zuckerburg

Investment firm GSV Capital has purchased 225,000 Facebook shares at a price of $29.28 per share. Considering that Facebook currently has 2.4 billion outstanding shares, you can do the math and find out that it adds up to $70.27 billion. Pretty impressive. We believe that¬†people, tending to hype things up and speculate at everything under the sun, are the source of the exaggerated $100 billion valuations, although at its current growth rate Facebook shouldn’t take long to reach the $100 billion mark.

Back in January, Facebook was valued at $50 billion based on an investment worth $500 million in Facebook shares by investment firm Goldman Sachs. The much increased current valuation is due to Facebook claims of massive user growth and increasing advertising market shares. Facebook supposedly now has more than 750 million users, and a whopping 33% of the display ad share in the US. The social network has shown much resiliency amid reports of users quitting, and privacy fiascos.

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Posted on June 29, 2011, in Tech Buzz and tagged , , , , . Bookmark the permalink. Leave a comment.

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