Goldman Sachs: Facebook Worth $50 Billion
|Facebook founder Mark Zuckerberg|
Wall Street titan Goldman Sachs has inked a deal along with a Russian investor to invest a cool half-billion in Facebook, based on a valuation of the social networking site at a staggering $50 billion.
As reported by the New York Times, the deal underscores just how powerful Facebook has become. It surpassed Google's search page as the most visited Web site last year according to Internet tracking firm Experian Hitwise, and with 500 million users, Facebook packs quite the marketing and advertising punch.
The Goldman deal for now will not have any discernible effect upon Facebook's legions of users. But such a vote of financial confidence from a large and successful investment bank should allow Facebook to continue to recruit top talent and develop new products, the Times suggested.
Facebook continues to make headlines and raise eyebrows; its founder Mark Zuckerberg was awarded Time magazine's Person of the Year honor, and the less-than-flattering movie based on his creation of Facebook, "The Social Network ," has generated big-time Oscar buzz.