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Mark Zuckerberg To Get A Bigger Allowance

Facebook has raised $500 million from Goldman Sachs and a Russian investor in a deal that values the company at $50 billion, per sources close to the deal. If so, Facebook is now worth more than eBay, Yahoo and Time Warner. The money gives Facebook draw power in Silicon Valley, where talent -- from programmers to executive chefs -- is worth more than fresh water in the Salton Sea.

The investment also means shareholders of the non-public company and stakeholder employees can cash out. Zuckerberg has not made any announcement about an IPO, though sources say the company's board has made noises about a 2012 public offering.

Read the whole story at New York Times »

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