According to WSJ, Facebook Inc's business is growing much faster than forecast several months ago. The social giant is on track to top $2 billion in earnings before interest, taxes, depreciation and amortization in 2011.
This is good news for Goldman Sachs and Digital Sky Technologies, who are reported to have invested in the company at an outlook lower than what WSJ is reporting now. Notably, Goldman's and Digital Sky Technologies' investment invested in the company after valuing it at $50 billion.
The WSJ says that Facebook's profits were now growing at a fast-enough rate to justify a valuation of $100 billion or more when it goes public early next year.
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Facebook valuation much higher than expected
Facebook valuation much higher than expected
Anil Singh
Monday, May 2, 2011
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