GSV Takes Stake In Facebook

by , Jun 27, 2011, 11:51 AM
  • Comment (1)
  • Recommend
Subscribe to Around the Net In Online Marketing

Tags

Investment fund GSV Capital Corp has reportedly taken a small stake in Facebook at a valuation of about $70 billion. "The investment fund said on Monday that it had bought 225,000 shares in Facebook at an average price of $29.28 each," Reuters reports. Perhaps more notable, however, are the circumstances under which the investment was made.

Ahead of what executives are calling an inevitable IPO, "Concerns about Facebook's white-hot growth have surfaced in recent months," writes Reuters. For one, a group of Facebook shareholders is trying to sell $1 billion of stock on the secondary market in a transaction that also would give the company a value of about $70 billion, Reuters reported in April.

Stull, "Everyone wants to get a piece of Facebook," writes 24/7 Wall St. "Shares have been sold by the company and shares have been sold by employees and insiders on private market exchanges." "At $70 billion, Facebook would be valued slightly below Amazon.com Inc, Cisco Systems Inc or Hewlett-Packard Co.," according to Reuters.

Facebook currently has about 2.4 billion outstanding shares, according to the latest data from secondary market company Sharepost. "Facebook is a one-of-a-kind business which has created enormous network effects," Michael Moe, GSV Capital's founder and CEO said in a statement. "With over 650 million people on its platform, or approximately 1/10 of the world's population, Facebook has established itself as a next generation social communications platform."

0 comments on "GSV Takes Stake In Facebook".

  1. Howie Goldfarb from Blue Star Strategic Marketing
    commented on: June 27, 2011 at 3:38 p.m.

    This stuff drives me crazy. Short the stock. Obviously GSV is looking to pump and dump. And the trade pubs aren't helping. When you break the facebook stats down it is a dying network. You can't market to people on facebook. I could go blue rattling off everything. But let the suckers lose their money. What I hate is Zuckerberg and Sandberg making off with the suckers money. They are slime weasels who don't deserve a dime.

Leave a Comment

Sign in to leave a comment. Don't have an account? Join Now

Recent Around the Net In Online Marketing Articles

  • Cheaper Nook's Getting Web Browsers, Email  

    Nook Simple Touch, Barnes & Noble’s inexpensive line of e-readers, is getting a Web browser and ...

  • Foursquare Gets $41M In Private Equity  

    Giving itself more time to grow and mature as a business, Foursquare just took $41 million ...

  • Google Unveils Google Keep App  

    Confirming earlier reports, Google on Thursday unveiled a new note-taking app named Google Keep. But, despite ...

  • Nexflix Friends Facebook  

    In what Web watchers are calling a long-overdue integration, Netflix has finally tapped Facebook to offer ...

  • Mason Out At Groupon  

    Andrew Mason is out at Groupon. Yes, after another disappointing quarter -- which sent the deal ...

  • Groupon Loses Market Value  

    In the surest sign yet that the once-booming daily-deal space has busted, Groupon lost a quarter ...

  • Foursquare To Take Credit, Debit Cards  

    In conjunction with its check-in deals program, Foursquare will now accept Visa, Mastercard and debit cards. ...

  • Pinterest Valued At $2.5B  

    Social scrapbooking sensation Pinterest has secured $200 million at a valuation of $2.5 billion. “There have ...

  • HP To Adopt Google's Android System  

    Reshaping the mobile landscape, Hewlett-Packard reportedly plans to adopt Google’s Android operating system to run a ...

  • Amazon Creating App Currency  

    Amazon on Tuesday unveiled a virtual currency for Kindle Fire owners to purchase apps and games, ...

» Around the Net In Online Marketing Archives