Technology

Goldman Sachs ups Facebook's valuation at $50 bn

MUMBAI: Digital Sky Technologies and Goldman Sachs have bought a stake in Facebook for $500 million, valuing the social networking site at $50 billion.


Goldman Sachs has put in $450 million while Digital Sky has invested the other $50 million in Facebook. The New York-based securities firm has also made an arrangement that allows its clients buy equity worth as much as $1.5 billion. 
 
The move by Goldman Sachs to make Facebook‘s equity available for its clients may prompt U.S. regulators to find out whether the social networking site is evading any disclosure rules.


Facebook chief executive Mark Zuckerberg has resisted floating shares since it was founded nearly seven years ago. As per the Securities and Exchange Commission regulations, companies with more than 499 investors need to make certain financial information public.


The recent deal indicates how fast the valuations have soared for Facebook which has established itself as a leader in that space. Venture capital firm Accel Partners paid less than $13 million for 10 per cent of Facebook in 2005.  
 
According to the New York Times, Goldman will raise up to $1.5 billion from investors for Facebook as part of the deal.


But a stock market flotation does not look likely for the time being as Zuckerberg recently told US news show 60 Minutes that he did not see selling the company or going public as an end goal.


Microsoft bought a 1.6 per cent stake in Facebook by investing $240 million in 2007.


Facebook, valued at $50 billion, would exceed the valuations of Web portal Yahoo! and online commerce site EBay. The valuation would also be 25 times Facebook‘s 2010 revenue.


According to comScore, a marketing research company, Facebook‘s astonishing growth of up to 633 million global users by October 2010 has positioned it as the most powerful site on the web.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/17/Dalet.jpg?itok=0-5wx5GR
Dalet to expand opportunities for b'casters & content producers

MUMBAI: Dalet Digital Media Systems will present its forward-thinking, agile media solutions at the BroadcastAsia2017 show (BCA), held in Singapore from May 23-25, on stand 4T3-05. Dalet solutions streamline a wide range of workflows for broadcasters and media organizations around the world,...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/17/LG%20%26%20SES.jpg?itok=IJvnNLDE
LG & SES to demonstrate 4K high frame rate tech

MUMBAI: SES and LG Electronics will demonstrate OLED TV’s cutting-edge 4K High Frame Rate (HFR) broadcast at the tenth SES Industry Days conference in Luxembourg on 16 & 17 May. The 4K HFR content will be transmitted live via an ASTRA satellite at 19.2 degrees East and displayed on LG’s OLED TV...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/16/Michael%20Hawkey.jpg?itok=4U-bvF_d
TiVo brings entertainment to Panama Cable Onda subs

MUMBAI: TiVo Corporation, a global leader in entertainment technology and audience insights, today announced that Cable Onda, a leading television service provider in Panama and long-time TiVo partner, has agreed to expand its offerings and will soon offer its customers the latest TiVo Gateway DVR...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/11/Ian_Goldsmith-David_W_Jones_0.jpg?itok=PipNfkbS
Irdeto helps Rogue Wave Software secure banks & PSPs

MUMBAI: Irdeto, the world leader in digital platform security, and Rogue Wave Software, maker of Akana and a leading provider of API Management, API security and Microservices solutions for digital businesses, have announced a partnership to help banks and payment service providers (PSPs) protect...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/08/Nadeem%20Khan_2.jpg?itok=zyJc49bI
Gartner sees VIDIZMO as a 'challenger' for Enterprise Video Content Management

MUMBAI: VIDIZMO, a leading enterprise video platform provider, has been recognized as a challenger by information technology research and advisory firm Gartner Research, Inc. in its annual Magic Quadrant for Enterprise Video Content Management. The Gartner Magic Quadrant evaluates vendor...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/05/LATAM.jpg?itok=uWgTkYY0
Virtualise content: Prime Focus signs deal with Turner LATAM

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, has signed an agreement with Turner Latin America, where PFT’s CLEAR™ Broadcast Cloud will provide work order and supply chain management along with end-to-end process monitoring of critical tasks, with reports and...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/04/Anil%20Ambani.jpg?itok=Dhy1Ez2I
R-Com signs pact with Aegis for VR & gaming, $ 36bn HPC market forecast

MUMBAI: Reliance Communications' undersea cable unit Global Cloud Xchange has entered into a HPC pact with two companies to provide cloud computing services. Traditionally, HPC has focused on serving end users, but the growth of IoT and Big Data, combined with the emergence of virtual reality and...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/03/chris.jpg?itok=jVQOBS-4
Content & OTT solutions: Alliance & India's Fullorbis tie up to sell NETArchive

Data archiving leader Alliance Storage Technologies and Fullorbis Technologies have teamed to expand sales throughout India. Fullorbis intends to sell and promote Alliance’s purpose-built NETArchive solutions to help archive, manage, optimize and protect critical data serving customers in a variety...

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/03/Vynsley%20Fernandes%20and%20Sunil%20Ranadey.jpg?itok=oLYj8SoV
CastleMedia sets up Spyke for CPE and STBs repair

MUMBAI: Here’s some good news for the DTH Operators, MSOs and LCOs who used to get their STBs repaired from the neighborhood electrical shop at the hands of untrained, unqualified electricians.

Technology Hardware Set-top Boxes

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories