Media and Money

Posts Tagged ‘Facebook worth

facebook_picFacebook Inc. employees can sell their stock for $14.77 a share under an agreement with Digital Sky Technologies, giving them a chance to capitalize on the company’s growth without an initial public offering, Bloomberg reports.

The Russian investment firm will buy as much as $100 million of Facebook common stock from current and former employees, according to Jennifer Gill, an outside spokeswoman for the investor. Digital Sky announced a separate $200 million investment in Facebook’s preferred shares in May, valuing the company at $10 billion.

The deal values the company’s total common stock at $6.5 billion, because those shares are less valuable than preferred stock. Employees typically hold common shares, which have fewer privileges and financial guaranties.

Facebook vaulted past MySpace last year to become the world’s largest social-networking company, helping it attract advertisers during the worst ad slump since the dot-com bust in 2000. Marc Andreessen, who sits on Facebook’s board, said the company should post at least $500 million in revenue this year.
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According to Reuters, Facebook will likely be posting billions of dollars in revenue in five years, up from about $500 million this year, according to Silicon Valley entrepreneur Mark Andreessen who sits on Facebook’s board.

Andreessen told Reuters that the world’s most popular online social network could pile up $1 billion in revenue this year if it pushed harder on selling advertising.

But he added that it was more important at this stage for social sites like Facebook and Twitter to retain and grow their user base and capture market share, rather than worry too much about making lots of money right away.
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