$50 Billion, Facebook's New Pricetag
Jan 03, 2011 - by Josh Linam
Goldman Sachs just valued Facebook at $50 billion, and they handed Mark Zuckerberg $450 million to play with. Will Zuckerberg stop wearing socks with sandals and buy a pair of oxfords?
$50 billion is a mind-bogglingly large number. But think about it Facebook IS the Internet.
In 2010, the social networking site overtook Google as the #1 most-viewed Web site on the Internet. It's the largest social networking site in the world, and it's still growing like crazy. And as I recently learned, 40 percent of Canadians are registered Facebook members. (Who knew a country with so many moose would be so Web savvy?)
With Goldman's investment, Facebook will look to make acquisitions, expand services and add new hires. Hopefully they can buy Zuckerberg a few designer threads, too. That sweat pants and crusty t-shirt look is not working.