$60 Million More Goes to Facebook
Posted by Nick O'Neill on November 30th, 2007 9:38 AMAccording to Kara Swisher, Asian billionaire Li Ka-shing (not to be confused with Ka-Ching) has invested $60 million in Facebook. According to the article, Providence Equity Partners and other investment groups have dropped out of negotiations due to crappy terms. Apparently no investor gets a seat on the board, including Microsoft who recently invested $240 million for 1.6 percent of the company.
Some had speculated that Facebook would no longer be able to close any investment rounds due to the extremely high valuation that Microsoft set. Apparently Facebook is an investment that only the richest of the rich are willing to make (or can afford to make). Li Ka-shing is the richest person in Asia and the 9th richest person in the world. So given that he’s a billionaire, $60 million is pocket change to him.
I love to site back and reflect on the days when $60 million was pocket change for me. It is doubtful that Facebook will be able to raise any more money in the near future given the caliber of investors that are currently investing. With over $500 million in cash, Facebook has enough leverage to make some major plays in the market. It will be interesting to see what comes next out of Facebook. Will their SocialAds grow in popularity? Will Beacon become a widely accepted shopping utility? Only time will tell!
(4.64 out of 5)
(4.22 out of 5)
Add New Comment
Viewing 4 Comments
Thanks. Your comment is awaiting approval by a moderator.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Add New Comment
Trackbacks